The falling container ship market and the rising tanker sector have led one shipping company to switch feeder boxship newbuildings booked at a South Korean shipyard to large crude carriers.
Several shipbuilding sources said Tsakos Group of Greece is not going ahead with the feeder container ship newbuildings that it ordered at Hyundai Heavy Industries last year.
Instead, it has swapped them for 158,000-dwt suezmax tanker newbuildings.
