Wisdom Marine Group says it has cancelled an order for a pair of aframax tanker newbuildings in Japan.
It blamed the state of the tanker market for the decision to cull the deal for the 115,000-dwt vessels booked at Japan Marine United (JMU).
It said its board had approved the decision to cancel the deal. The ships were being built at a cost of $50m each and were due for delivery in early 2019.
