Cosco client cancels order

Cosco Dalian, Cosco Shipyard's subsidiary, following the request from an Asian shipowner, cancelled the ship building contract for one unit of bulk carrier vessel.

According to Cosco, the cancellation is made after negotiations with the shipowner. Construction of the vessel being the subject of the Cancellation Agreement has commenced for some time. As part of the agreement to cancel the order of the vessel, the shipowner has paid compensation to Cosco Dalian.

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