Cosco Agrees to Postpone Bulker Delivery

Cosco (Zhoushan) Shipyard. Image Courtesy: Cosco Shipyard Group.

China’s Cosco (Zhoushan) Shipyard, part of Cosco Shipyard Group, has agreed to postpone the delivery of one bulk carrier to an unnamed European client by one year.

Upon the request of the client, the delivery of the bulker was pushed from the second quarter of 2017 to the second quarter of 2018.

The shipowner asked for the postponement due to ”the current unfavourable market conditions.”

”In view of the rescheduling and the uncertainty as to when the shipowners will take delivery of the bulk carrier, it is not possible to ascertain the financial impact of the agreement for rescheduling at this point in time. The Company will make announcements of any significant development in this matter at the appropriate junctures,” Cosco said in a statement.

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