An undisclosed European owner has cancelled an 80,000dwt bulker newbuild order with Cosco Dalian.

The China-based COSCO Shipyard Group said construction had not yet begun and the yard would be compensated by the owner, according to

Two Asian owners have also delayed the delivery of four 57,000dwt Supramax bulkers at Cosco Zhoushan and Cosco Guangdong.

The last of the vessels will be delivered in April 2012.

The recent delay means that 52 newbuilds, or more than half of COSCO’s outstanding orderbook of 93 vessels, have been delayed.