Parkroad cancels JES bulker

Singapore: JES International Holdings has announced that financially troubled South Korean operator has cancelled one of its two 79,800 dwt ships on order at the Chinese yard. JES has taken the first installment payment as compensation for the cancellation.

JES was buoyed last week by the decision from Baosteel to get three 23,000 dwt bulkers built at JES.

(Source: Sea Trade Asia online)