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Diana Shipping cancels bulker at Dayang Shipbuilding

Greek owner Diana Shipping has cancelled a shipbuilding contract with Yangzhou Dayang Shipbuilding and Shanghai Sinopacific International Trade with respect to a kamsarmax dry bulk carrier.

The original delivery date of the ship was scheduled for May 31, 2016.

The company has exercised its right under the contract to cancel the contract due to a delay in delivery of 150 days after the original delivery date. Diana will to claim a refund of the pre-delivery installment payments of around $8.65m plus interest. The refund is covered by a refund guarantee from the Export-Import Bank of China.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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