Samsung Heavy Industries (SHI) has terminated three newbuilding contracts that it had earlier signed with US-based Delos Shipping.
The decision to terminate the contracts for three 93,000-cubic-metre very large ethane carriers (VLECs) was made in light of the owner’s inability to pay the builder according to the stated terms.
SHI is presently in talks with a new client over the possible re-sale of the three vessels.
- French submarine lost at sea in 1968 found 51 years later
- US Coast Guard launches probe into three tug sinkings in Illinois River
- Wreck of WWII-era US patrol boat found off Maine
- New response boat delivered to US Coast Guard station in Burlington
- Nearly two million litres of oil recovered from WWII-era shipwreck off New York