Subscribe to RSS feedDry bulk orderbook set for 15% cancellations
by
Liz McCarthy, London
—
last modified
May 17, 2010 10:20 AM
AROUND 15% of the dry bulk orderbook will be “completely cancelled” as Chinese greenfield yards face closure due to lack of financing, according to US investment bank Cantor Fitzgerald.
Restricted access to credit for less-established shipowners, combined with a reduction in ordering activity is set to create cash flow problems at yards, which is likely to see greenfield sites experience further delays in building ships or complete closure.
“In...
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