Seoul: Hyundai Heavy Industries and its affiliates have decided not to deliver 12 vessels with a total capacity of around 1.6m dwt to Today Makes Tomorrow (TMT), Korean media outlet Asiasis reports
The struggling Taiwan-based shipowner failed to make its required payments to the Korean shipbuilder.
The vessels include two 263,000 dwt ore carriers at Hyundai Heavy Industries, two 263,000 dwt ore carriers and seven 84,062 bulkers at Hyundai Samho and one 37,000 dwt bulker at Hyundai Mipo Dockyard.
Hyundai Mipo has found a new owner of the handysize ship to Greek owner Cosmoship. [12/10/12]
