Precious Shipping has cancelled the acquisition of one new supramax vessel from Taizhou Sanfu Shipyard in China.
“Precious Lands Limited, the company's subsidiary which had signed the acquisition agreement... has cancelled the purchase of the vessel due to the delay in delivery,” Precious Shipping said in a statement on Friday.
Precious Shipping had in October and November this year taken delivery of two similar vessels worth a total of $53m from the Chinese yard.