Indian yard looks to offload bulker

Indian yard looks to offload bulker

Following the failure by Chennai-based Goodearth Maritime Limited to pay installments on time, Hindustan Shipyard Limited has started negotiations with the Indian Navy to offload a partially completed bulker.

The Diamond 53,000 dwt designed ship is 70% complete, and would need four months more work to complete it. The yard, which is facing tricky financial times, is keen to float out the ship as soon as possible so it can get other projects underway at its drydock.

The shipyard, which gets most of its work from ship repairs, is owned by the Ministry of Defence.

 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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