Croatian shipbuilding group Uljanik has lost another five newbuilding contracts.
Canada's Algoma has cancelled four handysize bulkers at the 3 Maj subsidiary, while Uljanik Shipyard has scrapped a deal for a livestock carrier from Wellard Group of Australia.
“The cancellation notices have been sent to the shipyard as a result of the yard’s failure to secure refinancing and Algoma has no assurance that the shipyard will be able to complete the four vessels,” Algoma said.
