Wadan Yards owns two ship-building shipyards in the German cities of Wismar and Rostock - Varnemyunde, and also the former Nikolaev shipbuilding plant "Okean" (now - Wadan Yards Okean). In 2008 the income of Wadan Yards Okean made 289,1 million UAH, a loss - 131,3 million UAH of 100% of Wadan Yards are under control to structures of the Russian businessman Andrey Burlakov.
Last week the Ukrshipping company of Konstantin Grigorishin began procedure of judicial proceedings with the Wadan Yards Okean company in Arbitration court of Oslo, Denis Rabomizo, the lawyer of Ilyashev and Partners law firm (represents interests of Ukrshipping) told. According to him, the applicant demands to stop a vessel construction in court and to return the advance payment made at the beginning of 2008 of $1,68 million and 4,4 million euros.
The lawyer of JSC Ukrrechflot Valentin Gritsenko reported that Ukrshipping ordered vessels for its company. He added that since 2003 of Ukrshipping constructed nine vessels at the Nikolaev plant for total amount of $48,5 million and 22 million euros. The overall cost of the last contract under which there are judicial proceedings, makes $20,4 million and 10,2 million euros. The agreement was concluded in February, 2007 then the company made an advance payment. However on July 17, 2008 Wadan Yards Okean declared that in connection with a rise in prices for metal and accessories intends to increase unilaterally contract cost to $37 million and 15,2 million euros. In reply to Ukrshipping declared intention to terminate the contract and I demanded to return an advance payment. "However money isn't returned still", - mister Rabomizo states. He explains it to that Wadan Yards Okean at the beginning of this year agreed to complete the ships at the former price." Time necessary for construction of vessels, is lost, and Wadan Yards Okean simply have no chances to hand over vessels until the end of 2009 as it is specified in the contract. Therefore Ukrshipping decided to appeal to court and to defend the rights", - mister Gritsenko explained.
The marketing director of Wadan Yards Okean Anatoly Gorbach says that the enterprise all the same will try to complete vessels in time and will demand from Ukrshipping to pay the contract. "We continue to do the part - to build. Also we hope to finish in time", - he declared. Mister Gorbach refused to make comments on the judicial claim.
The partner of the Legal Partners company Andrey Domansky notes that if the contract will be executed in time, Wadan Yards Okean have chances to achieve recognition it executed in court. "If they at least per day delay its performance, Ukrshipping will be able to receive not only the advance payment, but also the penalties provided by the contract", - the managing partner of a yurkompaniya of Astapov Lawyers Andrey Astapov speaks.
The executive director of Association of shipbuilders "Ukrsudprom" Yury Alekseev told that in connection with decrease in volume of orders the majority of the enterprises making accessories and the equipment for the ships, productions curtailed. In this regard in the market there was a temporary shortage of the equipment for vessels that forces shipbuilders and customers of vessels to prolong terms of existing contracts. "In these conditions the contract which and so becomes with delay, it will be extremely difficult to execute", - the head of the analytical department of IK "Brokercreditservice" Maksim Shein considers. He notes that fight for clients in shipbuilding sharply amplified recently from - for decrease in orders - and at desire of Ukrshipping will be able to construct the same vessels on the European shipyards, and is 10-15% cheaper, than in Ukraine.