Taipei-listed CSBC announced that the termination of the shipbuilding contract was raised by the shipowner in accordance to the terms and conditions of the contract.
The parties did not disclose the reasons behind the cancellation but the newbuilding delivery date had been delayed by more than one year since the original schedule fixed in the third quarter of 2015.
Syra Shipping had approach CSBC to construct the 1,800-teu boxship in January 2014 at a price of $25m.
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