A contract for construction of a Capesize bulk carrier at Hanjin Heavy Industries & Construction Holdings (HHIC) of Korea has been cancelled, the shipyard said.
According to the shipbuilder, the undisclosed Liberian-based owner has cancelled the order having been faced with financial difficulties.
Based on the shipbuilders filing with Korea Exchange the order is worth KRW 60.4 Billion (USD 50.1 million).
Further details on the contract have not been disclosed apart from the fact that the ship was ordered in March 2014.
World Maritime News Staff