ShippingWatch

Clipper cut 40 ships from the order book during the crisis

Clipper did not hold back when the entire industry thought that the market was practically infinite in the boom that lasted until 2007. From 2008 to now the shipping company has reduced the number of ordered ships by more than 40.

Four years of economic turbulence have left its marks on Clipper’s program for newbuildings. Of more than 90 newbuilding orders from mid 2008, more than 40 ships have not been delivered, either because of cancelled orders or through options which have not been finalized. The majority of cancellations happened because of a single bankruptcy, that of the Tsuji Group, which builds in China.

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