China’s Yangzijiang Shipbuilding has been taken to arbitration in London over cancelled vessel orders worth $900m.
The Singapore-listed group said that proceedings began on 10 June and 26 September against three units: Jiangsu Tianchen Marine Import & Export, Jiangsu Yangzi Xinfu Shipbuilding and Jiangsu New Yangzi Shipbuilding.
The action relates to an alleged breach of contract for 10 orders.
