Stolt Tankers, a subsidiary of Stolt-Nielsen, has cancelled a new building contract with SLS Shipbuilding of South Korea due to the extended delays in delivery.
Hull #474, a 44,000dwt coated parcel tanker, was originally scheduled for delivery in September 2008.
Stolt entered into arbitration with SLS Shipbuilding on 30 March 2009.
The cancellation follows the termination of hull #473, the first ship due in the series from SLS Shipyard.
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