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Zim to write off US$72 million following ship order cancellations
ISRAELI flag carrier Zim is to write off US$72 million due to canceling four 8,800 TEU ship orders made in 2007 with Samsung Heavy Industries for 8,800-TEU ships and the reduction of an unspecified order of 10,070-TEU vessels from Hyundai Samho due for delivery in 2015.
Zim has lost a paid deposit on the four-vessel order rather than paying a hefty $1.5 billion for vessels which are cheaper than the cost. It also cancelled three 12,600 TEUers worth $51 million.
According to Clarksons London shipbrokers, the Hyundai Samo order reduction is likely to be the one only 10,070-TEU vessel given the figures named.
Zim has lost a paid deposit on the four-vessel order rather than paying a hefty $1.5 billion for vessels which are cheaper than the cost. It also cancelled three 12,600 TEUers worth $51 million.
According to Clarksons London shipbrokers, the Hyundai Samo order reduction is likely to be the one only 10,070-TEU vessel given the figures named.
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