The global credit crisis has affected Korean and Chinese shipyards, which are seeing order cancellation in dry bulk and wet bulk carriers. Hindustan Shipyard, which handles both government and private clients, has not not seen any order cancellations, a top official of the company said.
The bidding war for Great Offshore ratcheted up a notch with ABG Shipyard saying it would come out with a counter-offer to rival Bharati Shipyard's offer of Rs 560 a share announced on Wednesday after it acquired 3.1 per cent from the open market to take its total holding to 22.4 per cent.
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