Firms in Fed’s Beige Book Fret Over Any Lengthy Baltimore Port Closure
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
CMB, which added that the shipbuilder was not able to deliver the four handysize vessels on time, said Samjin had returned $30 million in advances, including interest.
In late 2011, CMB’s unit Bocimar signed a deal with Samjin for the delivery of six vessels, with two options for another two.
After Tuesday’s cancellation, CMB said it was monitoring the situation and did not exclude walking away from other orders with Samjin.
CMB, which on Tuesday also confirmed a first-half net loss of $2.8 million, said it would not pay an interim dividend for the period. (Reporting by Robert-Jan Bartunek; editing by Barbara Lewis)
© 2014 Thomson Reuters. All rights reserved.
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