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A.P. Moller delays Samsung gas ship deliveries

A.P. Moller delays Samsung gas ship deliveries

Seoul: A.P. Moller will delay taking delivery of two 165,000 cu m LNG carrier newbuildings from Samsung Heavy Industries, as the sector faces overcapacity and a shortage of charter opportunities. There are currently 50 LNG carriers, accounting for about 20% of the total global fleet, on standby due to shortage in cargoes.
The first ship was initially due to be completed in October 2009, but its delivery will be put off to the end of 2009. It already has a medium-term charter deal with Australia's energy major Woodside Petroleum  starting July 2011, but no charter in the interim.
A second ship, due out in January next year, has also been delayed. [08/07/09]

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