Precious Shipping has ditched another couple of ultramax newbuilding contracts with Sainty Marine Corporation.
With the latest cancellation, the bulker owner has now culled six out of the 14 vessels ordered at the troubled Chinese shipyard in February 2014.
Precious said the 64,000-dwt newbuildings with hull numbers SAM14020B and SAM14021B have been excessively delayed.
The company is also claiming refunds of around $5.6m
