Another Called Off Order for Jinhai Heavy? (China)

November 29, 2012

After Ultrabulk and Golden Ocean Group called off their orders, Jinhai Heavy Industry could face more cancelations.

John Fredriksen’s newly established company, Frontline 2012 Ltd, created after splitting of Frontline Ltd, may pull out from a deal on construction of five Very Large Crude Carriers (VLCCs) ordered in 2008 with delivery from 2010 until February 2013, Sino Ship News reports.