STX Offshore & Shipbuilding says 110 bln won order canceled

STX Offshore & Shipbuilding said Wednesday a 110 billion Korean won ($99.02 million) order from an unnamed South Korean firm to build two tankers had been cancelled, Reuters reports.

The South Korean shipbuilder said in a regulatory filing that the order was cancelled as the firm that made the order had gone out of business and could not honour its contract.