By L. Karageorgos
Oceangold shipping, controlled by Yannis Dragnis, this week announced that its ship-building program was continuing as planned, with six new product tankers being built in Korea's STX Offshore & Shipbuliding, a total investments exceeding 200 million USD.
The Korean yard recently acquired a refund guarantee by the state-controlled KDB bank, which will allow it to commence construction of two of the tankers ordered by Oceangold.
The guarantee letters had been delayed by around four months. STX Offshore & Shipbuliding is in the process of restructuring.