Samsung-Dohle/CSAV order talks ongoing

Negotiations between Samsung Heavy Industries and shipowners Compania Sud Americana Vapores of Chile and German owner Peter Dohle surrounding orders for 12 mega-boxships have yet to reach a conclusion.

An SHI source said, “The negotiations are very complex but I can tell you nothing has been agreed.” The source was responding to market rumours that SHI was ready to bow to demands by the two operators that eight 12,600 teu containerships for Peter Dohle’s account and a further four similar vessels for CSAV be downsized to 7,000 teu or even cancelled and replaced by Capesize bulkers.

In May, financially troubled CSAV was thrown a $360m lifeline which was dependent on cancelling its order for containerships at SHI. All 12 ships, priced at $160m each and were contracted in 2007, are scheduled for delivery between August 2010 and December 2012.

Peter Dohle, however, has had more luck with its negotiations with a Taiwan shipyard. CSBC Corp, Taiwan’s largest shipbuilder, has agreed to calls for delivery delays for 24 containerships ordered by local shipowner Wan Hai Lines and Germany’s Peter Dohle, the shipyard said in a statement on Thursday. “Because the financial crisis led to a downturn in shipping and shipbuilding, all sides agreed to adjust the delivery schedule,” CSBC said in a statement.

CSBC said it will postpone the delivery of six 6,600 teu and six 4,200 teu boxships for the account of Peter Dohle by an average of four months. Wan Hai Lines also successfully negotiated a 16-month delivery delay for six 4,250 teu vessels and a seven-month postponement for six 1,800 teu ships.

CSBC President Chih-Cheng Li said “We are close to signing new orders in one or two weeks,” but declined to elaborate on the size of the potential order or who the customers might be. He said CSBC had 54 containerships on order through 2013.

He also said CSBC had received half of the compensation it is owed from Israel’s ZIM Integrated Shipping Services after it cancelled $220.4m worth of orders earlier this year. He said the company will receive the second half of the compensation in September 2010, but declined to elaborate on the figure, citing a confidentiality agreement.