South Korea’s Kukje Maritime Investment Corp (Kmarin) is said to have ditched a plan to order a series of VLOC newbuildings worth $750m, although it denies the claims.
Shipbuilding players said the investment company will not go ahead with an order for eight to 10 ore carrier newbuildings of 325,000 dwt at shipyards in China. A lack of finance and personnel changes at Brazilian mining company Vale are said to have caused Kmarin to abandon the effort.
