Glenda International Shipping has dropped an order for a chemical tanker in South Korea.
The d’Amico International and Glencore joint venture says it is seeking a full refund on the newbuilding.
It says hull number S510 was cancelled due to “excessive” delivery delays.
A spokesperson for d’Amico told TradeWinds: “The order was cancelled due to a new important delay.
“The ship was scheduled to be delivered already in September 2008, then in June 2009, but in the last days came the announcement of the new delay which was not accepted by DIS and Glencore.”
He adds Glenda has already paid 70% of the vessel’s $48m price tag and the cash is expected to be returned to the shipowner.
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