BRIEF-China Ocean Industry Group Updates On Status Of Four Vessels
Jan 3 (Reuters) - China Ocean Industry Group Ltd:
* UPDATES ON STATUS OF FOUR VESSELS
* TOTAL AMOUNT PAYABLE BY GROUP TO CUSTOMER UNDER ARBITRAL AWARD IS HK$882.8 MILLION
* GROUP WILL SETTLE PAYMENT UNDER ARBITRAL AWARD BY FINANCING FROM BANKS
* CO, JIANGXI SHIPBUILDING, JIANGSU YANGZI XINFU SHIPBUILDING . ENTERS DEAL TO BUY, CONSTRUCT, ONWARD TRANSFER ONE OF FOUR VESSELS
* GROUP SHALL PUT RESCINDED VESSEL ON SALE ON AN AS-IS BASIS BY WAY OF PUBLIC AUCTION WITH A STARTING PRICE OF US$8 MILLION
* YANGZI XINFU SHIPBUILDING AGREES TO PARTICIPATE IN AUCTION AND AGREES TO PLACE A BID AT US$8 MILLION Source text for Eikon: Further company coverage: