Jumbo Shipping confirmed today the cancellation of the contract for the Jumbo Kinetic, a K-class heavy lift vessel that was under construction at Brodosplit Shipyards in Croatia.
The vessel had already been launched at the yard last September and perhaps a month away from delivery, however local reports in Croatia indicate some sort of disagreement had developed. For Brodosplit shipyard, the cancelled contract may be a good thing as the value of the vessel has reportedly appreciated by nearly $12 million since the original contract was signed with Jumbo.
We reached out to Jumbo, however they were unable to provide insight into the matter. Jumbo spokesperson Sander van de Vooren notes in an emailed statement:
“At present, we do not anticipate any complications with the second K-class vessel and we expect that the shipyard will meet its contractual obligations by delivering the Fairmaster as agreed upon and stated in the contract.”
Once delivered, the Kinetic and her sister vessel will be the largest “heavy lifter” vessels in the world at 152m in length, 27m bean and 14,000 ton dwt. The ship is powered by two 4500kW engines and equipped with two cranes with a total lifting capacity per vessel of over 3000 tons.
The Fairmaster is planned for delivery by the end of 2014 according to reports.