Tuesday, July 7, 2009

Containership order changed to bulkers

Lloyd's List has a long article regarding the delay of newbuildings.

SOUTH Korean shipbuilder Hanjin Heavy Industries has apparently delayed an order for eight super post-panamax boxships on its own initiative, in an attempt to save the $1.3bn deal from the risk of cancellation.

Initially, the eight 12,800 teu ships ordered in 2007 by German owner NSC and Lloyd Fonds were scheduled for completion between 2010 and the end of 2011. Hanjin Heavy’s website now shows delivery dates of between 2010 and 2014.

What caught my eye was this comment about an order change.

However, Hanjin confirmed that Belgian shipowner Delphis has converted an order for four 3,400 teu vessels into three capesize bulkers.

Looks as if Delphis is betting the capesize bulker market will recover before the containership market.

click here for link to Lloyd's List article

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