A large order at China Rongsheng Heavy Industries has stalled and Hong Kong shipowner Ocean Longevity is looking at legal action.
The order, worth up to an estimated $360m for order-hungry Rongsheng, was billed last December as a piece of good news at the end of an unhappy year for China’s largest non-state-owned shipyard.
TradeWinds reported last December that three 250,000-dwt very large ore carriers (VLOCs), plus three optional ships, had been booked by Hong Kong-based Ocean Line Holdings, controlled by Ocean Longevity principal Kwai Szi Hoi.
An
