Greater China

Two more cancelled at Weihai Samjin

Dalian: Norwegian company Maritime Opportunities (MO) has cancelled two 36,000dwt bulkers at brankrupt Weihai Samjin Shipyard.

The two vessels were originally ordered by Danish owner Ultrabulk, and were taken over by MO last year.
MO cancelled the two ships due to long delays in delivery.

Weihai Samjin Shipyard has been declared bankruptcy by local court, and currently the local government is working on a restructuring plan to rescue the shipyard. [23/09/14]

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