Greek dry bulk owner Diana Shipping has received refunds of around $9.4m from the cancellation of a kamsarmax shipbuilding contract with Yangzhou Dayang Shipbuilding and Shanghai Sinopacific International Trade.
The vessel was originally scheduled for delivery in May 2016, however Diana cancelled the contract in November as the delays had reached over 150 days.
The refund guarantee was given by the Export-Import Bank of China and the refund amount reflects both the first and second installment payments plus interest.
