Samsung Heavy agrees to defer boxship deliveries.
SAMSUNG Heavy Industries executive vice-president CH Park confirmed that the yard has agreed with several container lines to postpone deliveries of new containerships from 2011 to 2012 and 2013, though he would not give details of individual contracts or owners.
?We have tried to be sympathetic with container lines seeking to postpone deliveries of new containerships as we know the difficult market conditions they are facing,? he said.
He added that the yard is trying to slot in some new orders, mostly tankers, to fill the vacated delivery slots in 2011.
However, he said that the yard is standing firm behind its contractual rights with regard to owners seeking to cancel orders outright. SHI has not faced any major problems as most of its clients are established high-class owners and negotiations have been co-operative, Mr Park told Lloyd"s List.
Even with some existing orders being pushed back to 2013 delivery, new orders being substituted into 2011 means that SHI has retained close to a full orderbook through to 2012, he told Lloyd"s List.
The yard will therefore not be under any pressure to step up efforts to secure new shipbuilding contracts in significant numbers to fill future capacity until the second half of 2011, he said.