Hanjin Heavy converts boxship order to bulkers

Reflecting current market realities South Korean builder Hanjin Heavy Industries & Construction (HHIC) notified the Seoul Stock Exchange on July 6 that it has changed four 3,400 teu containerships ordered by a European owner thought to be Delphis from Belgium into three bulkers. As a result, the total contract price of the vessels has risen to about $225 million, with the newbuildings now scheduled to be delivered by February 2012, from the initially set date of by December 2010.