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Dongfang Shipyard News

07 Apr 2014

Deadbeat Chinese Shipyards Stick Banks with Default Bill

Chinese banks are stuck in a lose-lose legal battle between domestic shipyards and foreign buyers over billions of dollars in refund guarantees that are supposed to be paid out if shipbuilders fail to deliver on time. One in three ships ordered from Chinese builders was behind schedule in 2013, according to data from Clarksons Research, a UK-based shipping intelligence firm. Although that was an improvement from 36 percent a year earlier, it was well behind rival South Korea, where shipyards routinely delivered ahead of schedule the same year. That means Chinese banks may be on the hook to pay large sums to buyers if the yards can't come through per contract, with little hope of recouping the cash from the yards.

01 May 2012

World's First 'Non Sea Water Ballast Ships' Ordered

Ningbo Dongfang Shipyard has recently won two newbuilding orders for two 6,500dwt tankers and a 4,500dwt pair from Zhejiang Huayun Shipping and Guangdong Zhanjiang Fuda Shipping, which will be the first NOBS ships to be built in China. The newbuilds will be delivered by 2013 and employed in hauling fuel in Singapore and South East Asia routes. XED say they have spent 3 years on R&D on the NOBS project, and have obtained the patent rights from the State Intellectual Property Office of the PRC; at present there are no ships of this type in the world. The patent includes the ship types: NOBS tanker, NOBS chemical tanker, NOBS bulker and NOBS containership.