Two of Japan’s largest shipping firms, NYK and “K” Line, reached agreements with shipbuilders to convert some container ship orders to orders for bulk carriers and other vessels, as demand for container shipping is expected to take time to make a full-fledged recovery.
NYK agreed … to convert seven of its 14 container ship orders to orders for three bulk carriers, two very large crude carriers and two product tankers that carry naphtha and other petroleum products. “K” Line agreed to convert five of its 31 container ship orders placed with various shipbuilding companies to orders for bulk carriers.