Japanese shipowner NS United Kaiun Kaisha (NSU) has torn up an expensive time charter contract early, but at a cost.
The Tokyo-listed company, which owns bulkers and gas carriers, said it will pay a cancellation fee of ¥2.7bn ($25.3m) to redeliver an unnamed ship in April to an overseas owner.
The loss will be booked in the year ending 31 March.
