Bloomberg: Shippers May Cancel Up To 15% of Vessel Orders on Slow Demand

“Shippers may cancel as much as 15 percent of orders for new vessels and delay taking deliveries to cope with a lack of financing and drop in demand amid the global recession, Poten & Partners said.  Cancelations may reduce orders for tankers by 5 percent and orders for ships that carry dry bulk by as much as 15 percent . . . .”