Diana Shipping has received a full refund less than two months after cancelling a delayed bulker order at China's Dayang Shipbuilding.
The New York-listed bulker owner said the Export-Import Bank of China paid it $9.4m paid to the Sinopacific Shipbuilding Group yard for construction of an 82,000-dwt vessel. The bank provided a refund guarantee for the order.
Simeon Palios-led Diana said in November that it cancelled the order for the kamsarmax after delays at the shipyard.
"The refund amount constitutes the repayment of all monies paid by the company in connection with the cancelled shipbuilding contract, together with interest thereon," Diana said today.
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