Yangzijiang Shipbuilding will see little impact from its recent cancellation of two handysize bulker newbuildings say analysts.
Last week Greek shipowner FreeSeas confirmed that its two 33,600-dwt bulkers had been canned after it failed to make the final payment on the ships.
UOBKayHian analyst Lawrence Li believes the decision will have “very limited financial and operational impact” on China-based Yangzijiang.
“Even if it manages to resell the two vessels at a 10% discount to current newbuilding prices, which is $22.5m
