Oldendorff ditches bulker newbuildings at four yards

Germany’s Oldendorff Carriers has taken the axe to around $266m-worth of bulker newbuildings in China.

The Lubeck-based owner, which had more 208,000-dwt newcastlemaxes booked at Chinese yards than any other owner, has cancelled four vessels, according to sources.

The company is said to have dropped two at Yangzijiang Shipbuilding Co and one each at Taizhou Catic Shipbuilding Heavy Industry and Jiangsu Hantong Heavy Industry.