European Shipper Pares HHI Order

7 October 2010 (Last Updated October 7th, 2010 18:30)

An unidentified European shipowner has cancelled four of eight box ships ordered at Hyundai Heavy Industries (HHI). The shipowner ordered the ships at the South Korean yard in June 2007 for $990m, which were scheduled for delivery by the end of 2010. HHI will deliver the fo

An unidentified European shipowner has cancelled four of eight box ships ordered at Hyundai Heavy Industries (HHI).

The shipowner ordered the ships at the South Korean yard in June 2007 for $990m, which were scheduled for delivery by the end of 2010.

HHI will deliver the four vessels for $495.8m.

According to reports, German shipping company Bertram Rickmers could be behind the deal, which included four ships of 7,000teu and four of 8,500teu, according to asiasis.com.