Belgian owner Bocimar bought the newbuilding bulker from Jinhui Shipping & Transportation.
Since Bocimar had bought the vessel at cost after a few weeks it was ordered in May 2007 by Jinhui. Jinhui placed an order for the 58,100-dwt bulker at Tsunenishi's Philippines facility back in 2007.
Accordingly, newbuilding contract between Jinhui and Tsuneishi was canned by mutual consent, said Oslo and Hong Kong-listed owner.
Also, Jinhui has been fully refunded by the yard and returned all deposits to Bocimar.