Orders for up to 26 capesize bulkers at China’s JES International Holdings (see facing page and below) have stoked fears that the market could be hit with an unexpected deluge of newbuildings as owners run the risk of dealing with financially troubled yards to secure timely delivery slots.
First-tier state-owned shipbuilders such as China State Shipbuilding Corp (CSSC) and China Shipbuilding Industry Corp (CSIC) have no early delivery positions and are quoting significantly higher prices for 2017 newbuildngs.
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