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Germans break records for capes at greenfield site

Germans break records for capes at greenfield site

Hong Kong: Shipbroker Clarkson Asia reports that the up-and-coming Korean shipbuilding facility Daehan Shipyard has bagged an order for four 173,000 dwt capesizes plus two on option. A German consortium led by Komrowski has placed the order. Three of the firm vessels are due to deliver in 2H 2008 and the remaining ship in early 2009. The price is understood to be US$71mill basis five time 20% payments 'which reflects a premium for the early delivery,' Clarkson noted. 'The significance of the deal, and the reason that Daehan can offer such early deliveries is that Daehan is a new yard, planned for a green-field site which does not yet exist beyond the planning stage. The fact that buyers are prepared to commit to Daehan at an all time record price shows the lack of alternative capesize opportunities, the strength of the market and, particularly, the value of early delivery,' Clakson concluded.  [18/09/06]

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