Green Dolphin cancels

摘要

Singapore-based Pioneer Marine, established only three years ago and one of the first companies to order Green Dolphin class 40,000dwt bulk carriers, has been forced to cancel contracts for a dozen of the ECO-design ships built in China because of continued low freight rates. The latest cancellations involve five of the ships that were to have been built by the Yangzhou Guoyu Shipyard and follow cancellations of seven of the vessels last November from both the Guoyu facility and China's Taizhou Sanfu yard. This leaves Pioneer with two of the ECO ships still to be delivered, and its existing fleet of 15 handysize bulkers.