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Greek Dryships cancels four ships from China

Dryships has made a deal to cancel an order placed by the Greek dry bulk carrier for four Panamax ice-class vessels from Chinese yard Rongsheng.

Greek-controlled and New York-listed Dryships, which is active in dry bulk, tanker as well as rigs and drilling vessels for offshore (Ocean Rig) has made a deal to cancel contracts for four ice-class Panamax dry bulk vessels, says the company in a statement.

The 75,450 dwt vessels were set for delivery from Chinese shipyard Juangsu Rongsheng Heavy Industries, but several media reported that the ships were delayed. According to Dryships, the carrier gets a full refund on all payments made to Rongsheng, a figure that amounts to around USD 11.6 million, reports Lloyd's List. And it looks like the carrier could use these funds, judging by the 2nd quarter interim report.

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