The Split-based Jadroplov has sold the ship Zrin due to unfavorable trends in the container market.
– The last lease for the ship expired on September 10, and since then it has been anchored in front of the port of Cagliari without any opportunity for new business. The new buyer of Zrin plans to repurpose it into a livestock transport vessel, što speaks volumes about the conditions in the container market, says Stjepan Papić, CEO of Jadroplov. The departure of the ship from the fleet is expected at the beginning of 2010, but the details of the contract are a business secret. The shipping company settled the loan obligation for the ships Zrin and Jadroplov Pride to partner Peter Doehle at the end of last week as part of the ‘sell and lease back’ arrangement. The lease for Jadroplov Pride expires in February 2010, and for the last ship in that arrangement, Don Frani Bulić, in 2012. A decision on any early repayment of the loan will be made later. (M. B.)
