When pressed for an update about the newbuildings during a third-quarter conference call, finance chief Ziad Nakhleh warned that the units have been “severely delayed” and confirmed that his company is not currently making payments.
“We are monitoring the situation very closely and believe we could be in a position to cancel the contracts and to call upon the refund guarantee to recover all payments made to the yard,” he said before noting there is a “high probability” the ships won’t be delivered.
Nakhleh,
