Asian Owner Cancels One, Delays One Bulker at Cosco

Image Courtesy: Cosco

An unnamed Asian shipowner cancelled one and rescheduled another bulk carrier, both of which were previously ordered on July 22, 2014, from China’s Cosco Dalian Shipyard.

The cancelled 82,000 dwt bulk carrier was originally scheduled for delivery in the first quarter of 2016.

The second 82,000 dwt bulk carrier was supposed to be delivered in the fourth quarter of 2015. The vessel is now expected to join the owner’s fleet in the third quarter of 2017.

Dalian’s parent company, Cosco Corporation Singapore, said that, as of today, the shipyard has not started the construction of the vessels. The company added that the downpayment received by Cosco Dalian for the cancelled vessel will be applied towards the other vessel.

Cosco posted USD 82.1 million net loss in the third quarter of 2015 due to losses in shipyard and shipping operations amidst unfavourable market conditions.

The group’s turnover from dry bulk shipping and other businesses decreased by 34.9% from USD 14.9 million in Q3 2014 to USD 9.7 million in Q3 2015 amid lower short-term rates.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jul 2017 >>
MTWTFSS
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Global Liner Shipping Asia Conference

Fight. Survive. Thrive. Respond to challenges of consolidation & disruption at the largest gathering of container shipping industry in Asia…

read more >

Bunkering Week 2017

IBC’s biennial Bunkering Week is back with its successful series of 3 co-located events: 8th Bunkering in Asia, 4th LNG Bunkering and EMTECH: Ship Emissions Technology Conference. With a proven track record of bringing together top decision makers from various industry sectors, this remains the go to event for ship owners, fuel suppliers, traders and […]

read more >

Indonesia Marine & Offshore Expo (IMOX) 2017

Indonesia Marine & Offshore Expo (IMOX) 2017, Batamis an international maritime and offshore industrial event that brings an international…

read more >

Salvage & Wreck Asia

Could your business be affected by shipwreck? Are you a salvage professional or a wreck removal expert? …

read more >