Cancelled Namura bulkers snapped up

Industry sources say that four companies have purchased the five cancelled 32,000 DWT handysize bulker newbuildings which Cido Shipping had ordered from Namura Shipbuilding's Hakodate yard in Japan. NYK Bulkship is taking two and Shih Wei Navigation of Taiwan and two unidentified buyers respectively taking one. Hakodate is scheduled to deliver two ships in 2010, one in 2011 and the remaining two in 2012.
A Namura executive confirms the sales but declines to disclose the names of the buyers and the prices. One sale-and-purchase broker says Namura would not sell the five bulkers at a loss, as the dry-bulk sector is beginning to firm up. "The two ships slated to come out of the yard next year could fetch between $23.5m and $24m each," he said.
It was reported in June that Cido had terminated the order and as part of the cancellation, Hakodate pocketed a deposit of ¥2.389bn ($25.4m).