Shipbuilder to delay deliveries

 Cosco Corporation (Singapore), the shipbuilding arm the Cosco Group, has agreed to delay delivery of eight dry bulk vessels at the request of two European shipowners, the company said in a statement to the Singapore Stock Exchange where it is listed.

   The shipbuilder owns yards in China and will delay deliveries of the bulk carriers until the year after next and the year after that instead delivering next year and in 2011 as earlier contracted. The deal will not seriously affect 2009 earnings, Cosco told the stock exchange.

   (Source: Transport Weekly)