Greater China

Bocimar cancels further six at Weihai Samjin

Dalian: Belgian owner CMB Group announced that its affiliated company Bocimar has decided to cancel a further order for six bulkers at the yard following the cancellation of four bulkers due to the bankruptcy of the yard.

The advances paid for all cancelled vessels including interest, have already been reimbursed or are expected to be reimbursed shortly.

Weihai Samjin has gone into a bankruptcy restructuring process and local government is trying to bring in new investors to save the yard. [27/10/14]

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