JES International suffers more order cancellations

China’s Jiangsu Dongfang Shipbuilding Co. (JES International) has had two of four 83,000-dwt panamax bulkers canceled by Croatian owner Atlantska Plovidba, reported the Kaiji Press. The Croatian owner had already paid 30% of the total contract price as deposit money. Each ship was contracted last year at $45m.
Atlantska Plovidba has pushed ahead with modifying the contracts of its ordered vessels, including changing in February one 180-type capesize bulker newbuilding (to be bought from Greek owner Alba Maritime) into two 50-type product carriers, which are to be built by South Korea’s STX Offshore & Shipbuilding.
As for Jiangsu Dongfang, in January this year, it had Greek owner Kristen Marine cancel the order for four 37.5-type handysize bulkers, and Croatian owner Tankerska Plovidba rescind the order for two identical bulkers.