Hyundai Mipo Dockyard found a new owner of cancelled 37,000-dwt bulker originally ordered by Taiwan’s Today Makes Tomorrow (TMT).
Greek owner Cosmoship is understood to be the ultimate buyer.
The Korean yard put the vessel up for sale, claiming the owner had failed to keep up payments on the ship D Handy, due for delivery before the end of this year.
Brokers believed that the ship was sold to the original buyer for closer to $21m.
Meanwhile, TMT originally booked three 52,000-dwt medium-range tankers at Hyundai Mipo in 2007 for delivery in 2011 but it switched the order to four handysize bulkers in 2010 at $37m each. Three vessel were delivered last year.