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.