Zhongchang Marine cuts bulker order

Shanghai: Zhongchang Marine announced today that the company has changed a shipbuilding contract it signed with Jiangsu Eastern Shipbuilding (JES) and Minsheng Financial Leasing for the construction of two 47,500dwt bulkers to one 47,500dwt bulker. The contract value has been decreased from RMB350m to RMB175m.

Zhongchang Marine said there is still some uncertainties in the shipping market and the cancellation of one bulker will help the company decrease its operating risks. [26/02/14]

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