Precious ditches final ultramax at Taizhou Sanfu

Precious ditches final ultramax at Taizhou Sanfu

In an announcement to the Thai stock exchange, Precious Shipping has revealed it has canned the last ship it had on order at China’s Taizhou Sanfu yard. The dry bulk owner cited the yard’s failure to fulfill one of the conditions precedent for the cancellation of the 63,345 dwt ship originally ordered at the end of 2013. Precious had paid no advances on this ship.

With this cancellation, the company’s newbuilding program with Sanfu is completed with six delivered ultramax vessels and four more cancelled.

 

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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