Singaporean tanker owner Yujin International Ltd (Yujin) has said it has informed the Chinese shipyard responsible for the late delivery of two new-build 5,500 DWT chemical tankers that it has cancelled the contract, Ship & Bunker reports.
In a company statement, Yujin also said that they were requesting the refund of all monies paid to the shipyard, including interest, and has also made a demand on the refund guarantee.
Ship & Bunker reported last month that the company was "preparing the necessary formalities" to terminate its new ship building contract with China's Wuhan Nanhua after the shipyard failed to make delivery by an extended deadline of March 31, 2012.
Yujin say it is continuing to take legal advice regarding its options and will make a further announcement in due course.
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