Japanese bulker owner has agreed a deal to terminate a charter early.
It is paying a cancellation fee of JPY 1bn ($9.33m) to redeliver an unnamed vessel next month.
The amount may vary depending on the actual redelivery date.
The owner is being kept confidential at its request, but is based overseas.
The Japanese company will book an extraordinary loss in the fourth quarter of its fiscal year ended 31 March.
