Jaya Holdings, Singapore, is reportedly rationalising its newbuild programme by cancelling or delaying new vessels.
Jaya is a vessel operator as well as a builder, with shipyards in Singapore, Batam (Indonesia) and Nantong (China).
According to Offshore Shipbrokers, Jaya has secured a debt moratorium until the end of next month from the courts in Singapore for its three main subsidiaries, Jaya Shipbuidling and Engineering, Java Marine Lines and Airia Jaya Marine.