Taiwan’s shipping company Wan Hai Lines has decided to terminate a shipbuilding contract for eight feeder vessels, ordered from Japanese shipbuilder Naikai Zosen.
The deal was cancelled due to changes in newbuilding rules and environmental regulations, Wan Hai said in a stock exchange filing. The company added that the decision was made in mutual agreement with the shipyard.
Under the agreement, reached in June 2016, the shipbuilder was expected to construct eight 1,900 TEU containerships. According to data provided by VesselsValue, the ships were valued at around USD 21 million a piece, bringing the total order value to around USD 170 million.
At the time of the contract signing, Wan Hai informed that the order was worth between USD 212 million and USD 326 million.
The new containerships were scheduled to join the company’s fleet starting from January 2018.
World Maritime News Staff