KC Maritime rejecting ultramax new buildings in China

Hong Kong KC Maritime 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 Sham Chellaram-controlled company’s assets. KC Maritime ordered for around $27m each in 2013 and 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 tailshaft vibrations. Fewer mechanical problems have arisen with ships built to the design of Sdari 64’s closest competitors. Meanwhile, KC Maritime trying to sell 2004 built panamax dry cargo bulk carrier 74K M/V Darya Shree  for $5.58m.