Shanghai: Citing delays in construction, Ultrabulk has cancelled two kamsarmaxes at Jinhaiwan Shipyard, originally ordered in 2010, adding to the myriad cancellation woes that have hit that shipbuilder in the past 18 months. Instead, Ultrabulk has opted to take a 61,000 dwt supramax at Japan’s Imabari Shipbuilding for delivery in 2015. The ship will be leased to Ultrabulk for 12 years, at which point it will have the option to purchase it. [19/11/12]
