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Geden nixes Mipo product carriers

Geden nixes Mipo product carriers

Seoul: Turkey's Geden Lines has cancelled an eight-ship order at South Korea's Hyundai Mipo Dockyard. ??The line axed the contract for building eight 37,000 dwt products carriers inked in the latter half of 2007. ??The delivery of the vessels had been delayed by more than 18 months from original 2009-2011 in the aftermath of the global financial crisis, but now the order seems to have bitten the dust. ??HMD has been facing a number of contract adjustment for PCs from early this year but an order cancellation is for the first time in 23 months. ??In August 2008 the yard had four PCs, ordered by European shipowner, cancelled. ??Separately, HMD has won two 34,000 dwt bulk carrier orders from a Greek owner, which are options attached to a four 34K BC contract inked in February this year. ??The latest orders mark the 10th ship for 34K BC contracts for HMD this year. [14/07/10]

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