China’s largest private-owned Jiangsu Rongsheng Heavy Industries turns out to face challenges as its yard schedule is greatly delayed for construction of offshore vessel, medium-sized bulker and so on.

Rongsheng is said to be under discussions with compatriot shipyards on project transfer for offshore vessels of which constructions already commenced. According to broker industry in Shanghai, the Chinese shipbuilder is having difficulty in building $125m tender-assisted drilling barge won by Pentacle of Norway last year although the construction started from December in the same year, reported by SinoShip News.

Accordingly, Rongsheng is seen to be searching for a domestic yard which is to take care of the project.

Meanwhile, Greek shipowner DryShips recently expected that it would not be able to take delivery of four ice-class Panamax bulkers from Rongsheng.

Overseas presses say that management of DryShips announced through a conference call for its third quarter performance result on November 5 that construction of four Panamax newbuildings for 2014 delivery is “severely delayed” and said that it had not been making a payment to Rongsheng.

A DryShips official said, “We are paying close attention to the current situation. We might call for refund guarantee (R/G) in order to get a refund for our initial payment,” and pointed out that it is “very probable” that we might not be able to take delivery of newbuildings.