Cash-strapped Taizhou Kouan Shipbuilding has failed to deliver a 82,000-dwt bulker to Tomini Shipping, and is now having to renegotiate its price.
A shipbuilding player said Jiangsu-based Taizhou Kouan had completed the sea trial of Tomini’s 82,000-dwt kamsarmax — to be named Tomini Nobility — early last month and was due to deliver it to the Dubai-based shipowner.
However, Taizhou Kouan failed due to the impact of the pandemic and cash-flow problems that have stalled production at the yard in recent months.
