Long delays force SCI to ditch offshore orders at ABG

State-owned Shipping Corp of India (SCI) intends to cancel two 80-tonne-bollard-pull (tbp) anchor-handlers soon, the first in a series of six such vessels booked at ABG Shipyard, according to broking sources.

20 December 2013 0:00 GMT Updated 20 December 2013 0:00 GMT

By Pinaki Routray New Delhi

The sources claim the cancellations are due to long delays in the delivery of the newbuildings.

ABG secured the $101m contract in January 2012, with each vessel priced at $16.83m. The first was originally scheduled to roll out of the yard by April of this year and the last by February 2014.

This is not the first time SCI has axed orders due to delivery delays.