Laskaridis eyeing bulk carrier cancellation

Greek owner Laskaridis Shipping appears to be eyeing the possibility of cancelling its order for seven 75,000 DWT bulkers it placed earlier with emerging Chinese shipyard Penglai Zhongbai Jinglu Ship Industry. The potential cancellation has been prompted by to the high probability of seller’s default, wherein Jinglu would be unable to keep the contracted delivery date because of the collapse of a 600-ton gantry crane at its dock late in 2008.

Priced at about $42-43 million apiece, the seven bulkers are to be delivered from 2009 up to the end of 2010. An official at Laskaridis said that the company is not actively considering the cancellation of its order but still hopes to negotiate with the yard, including few-month postponement of delivery dates.