Maiden delivery for Cosco Zhoushan

The Zhoushan facility of China’s Cosco Shipyard Group has completed its first newbuilding, a 57,000 dwt Handymax bulker named Yuan Shun Hai, ordered by Cosco Qingdao.

According to UK-based Clarkson Research Services, the initial delivery date of the ship was set for the middle of last year, meaning that the actual delivery was delayed by approximately one year.

As of 28 August, Cosco Shipyard Group had a total of 10 57-type bulkers under construction and will also complete its first 30,000 dwt heavy lifter and 5,000-unit PCTC by the end of the year.

As of last month, Cosco Shipyard Group received a total of 13 cancellations for 57-type bulkers that were to be constructed at its yards in Zhoushan and Dalian, and delivery delays for a total of 28 57-type/80-type bulkers to be constructed at the yards in Zhoushan, Guangdong and Dalian.

Local shipbuilding industry personnel have reported that Cosco Shipyard Group is having a tough time in terms of schedule management and production design for newbuildings, and is locked in an uphill struggle, particularly in the newbuilding sector.