SunStone will assume the following activities from ISP:
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Owners’ representation of ISP-managed ships for purchase, sale and chartering.
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The eight-ship newbuilding project, Project Unlimited.
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Other newbuilding activities.
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Communication with investors and potential investors in passenger ships.
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Ship inspections in connection with potential acquisitions.
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Representation of investors in connection with sale or purchase of existing ships.
Project Unlimited is a plan to build eight 200-berth
11,000-ton expedition ships, with all cabins having
balconies (see The Cruise Examiner, November 22, 2011 for
further details). According to the last week’s issue of
shipping newspaper TradeWinds, an unnamed European shipyard
has now been chosen to build these ships and export
guarantee financing has been put in place to fund 80% of the
newbuilding costs. It also reported that the first two
orders could follow within months.
