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More woe for SLS

Seoul: Saudi Arabia's National Chemical Carriers (NCC) has cancelled orders for more products tankers at South Korea's troubled SLS Shipbuilding. ??The subsidiary of National Shipping Co of Saudi Arabia (NSCSA) said delivery delays were behind the cancellation of the five 45,000-dwt vessels at the builder. ??NCC is, however, due to receive $95m in deposit payments back from SLS as a result of the orders being quashed, a statement from its parent to the Saudi bourse read on Tuesday. ??In May NSCSA was demanding $76m back from SLS after axing a pair of 45,000-dwt units which NCC penned in 2006. ??SLS has been faced with a series of chemical tanker order cancellations over delays including two units by Gulf Navigation, four by Ionia Shipmanagement, four of a 10-ship series by United Arab Chemical Carriers and eight by Stolt-Nielsen.  [15/09/10]

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