In an earnings update issued by the Belgian operator’s parent, Compagnie Maritime Belge (CMB), the units were identified as hulls 1052, 1053, 1054 and 1055. CMB said it cancelled the newbuildings because the shipyard was “not able to respect the contractually determined delivery dates”.
According to the Clarksons Shipping Intelligence Network database all four of the 36,000-dwt bulkers were scheduled to hit the water this year. CMB, whose shares trade on NYSE Euronext Belgium, pointed out that it has already recouped nearly $30m in advances and interest. It also indicated that Bocimar is “closely monitoring the situation” at the shipyard and didn’t rule out the possibility of further cancellations.
According to Clarksons the Belgian operator still has eight ‘eco’ bulkers under construction at Samjin that are due for delivery this year and next. Today’s development will likely fuel further questions about the financial health of the Samjin, which is based in China but controlled by South Korea interests. As we reported Bocimar never shed light on how much the handysizes cost but many believe they commanded approximately $19m a piece.