Tough market conditions have forced Indian bulker player Chowgule Steamships Ltd (CSL) to delay newbuilding deliveries and shelve expansion plans.
Mumbai-based brokers say the owner has deferred deliveries of three of its remaining newbuildings by two years because of the current “bad market” and low employment opportunities.
According to online platform VesselsValue.com, the shipowner has three units booked at Japanese yards — two 32,000-dwt bulkers at Hakodate Dock and one 37,200-dwt bulker at Saiki Heavy Industries.
