Hong Kong and India based shipowner and operator KC Maritime is rejecting of ultramax new buildings which are ordered at CSSC Huangpu Wenchong due to ship design problems. Chinese shipyard CSSC had moved to freeze the KC Maritime’s assets.
KC Maritime ordered new buildings around $27 million each in 2013. Bulk carriers were designed by The Shanghai Merchant Ship Design and Research Institute. KC Maritime’s cancellation may not be opportunistic as the same design Sdari-64 ships ordered by different shipowners have similar tail shaft vibrations. Fewer mechanical problems have arisen with ships built to the design of Sdari 64’s closest competitors.
On the other hand, KC Hong Kong and India based shipowner and operator KC Maritime has been trying to sell 2004 built panamax dry cargo bulk carrier 74K MV Darya Shree for around $6 million.