Stolt Tankers B.V. cancels newbuilding contract

Stolt Tankers B.V., a subsidiary of Stolt-Nielsen S.A. (OsloBors: SNI), today announced that it has cancelled a contract with SLS Shipbuilding Co. Ltd. of South Korea for the construction of a 44,000 dwt coated parcel tanker, the first in a series of four ships, citing extended delivery delays.  The ship was originally scheduled for delivery in May 2008.  All progress payments to date are covered by refund guarantees.

Source: Transportweekly