Hyundai Heavy Industries group refused to deliver 12 vessels with a total capacity of around 1.6m dwt to Today Makes Tomorrow (TMT) this year.
The Taiwan-based shipowner, struggling with financial difficulties, was unable to make payments and Hyundai group cancelled newbuilding contracts in the end.
The vessels include two 263,000 dwt ore carriers at Hyundai Heavy Industries, two 263,000 dwt ore carriers and seven 84,062 bulkers at Hyundai Samho HI and one 37,000 dwt bulker at Hyundai Mipo Dockyard.
Last month, Hyundai Mipo found a new owner of the handysize ship to a Greek owner, who is understood to be Cosmoship.
Published : October 12, 2012
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