Greater China

Doonbeg cancels bulker orders at Yangfan

Shanghai: US-based Doonbeg Group has cancelled four 64,000dwt bulkers plus four options at Yangfan Shipyard as it was unable to secure financing.

Doonbeg ordered the vessels at Yangfan in May this year with delivery scheduled in 2015 and 2016. Total value of the contract was $232m.

Doonbeg also placed orders of 10 kamsarmax bulkers and 2 ultramax bulkers at Chinese shipyards prior to the Yangfan order. [08/12/14]

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