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Cosco yard aborts bulker newbuild contract, inks order for two tankers

Cosco yard aborts bulker newbuild contract, inks order for two tankers
Cosco Corporation (Singapore) Limited has cancelled a shipbuilding contract for one 82,000-dwt bulker at the shipowner’s request, and inked new orders for a pair of oil tankers for the same owner.

The subsidiary yard Cosco Dalian entered into the cancellation agreement for the 82,000-dwt bulk carrier, which was originally scheduled for delivery in the third quarter of 2016.

Back in July 2014, the European shipowner booked two of the bulker carriers at the Chinese shipyard, and the remaining unit will continue to be built with delivery expected in the second quarter of next year.

Meanwhile, Singapore-listed Cosco Corp also announced that the Dalian yard and the shipowner have entered into a new contract to construct a pair of 113,000 dwt oil tankers.

The delivery dates for the newbuildings are slated in the fourth quarter of 2017 and the first quarter of 2018 respectively. “Cosco Dalian and the shipowner have agreed to keep the contract price confidential,” Cosco Corp said.