Icelandic container line Eimskip has cancelled its order for a 875-teu containership it had under construction at Rongsheng Shenfei shipyard, China.
The vessel is the second ship of a two-vessel order Eimskip placed in 2011, and was due for delivery in 2016.
The first boxship, Lagarfoss (875 teu, built 2014) was delivered in June last year.
Eimskip said that construction of the second vessel had “not proceeded according to schedule” and was likely to be delayed further.
“In accordance with the terms of the agreement, Eimskip will seek refund of $13.1m (plus interest), which the company has already paid in relation to the construction of the second vessel. That refund sought plus interest is secured by a bank guarantee,” the company said.
Eimskip says it will look at possibly investing in a comparable vessel.