Danaos cancels three Yang Ming 6,500-TEUers from Hanjin yards

MAJOR shipowner Danaos Corporation, of Greece, has cancelled orders of three 6,500-TEU newbuildings from Hanjin Heavy Industries, after deferring them last year for two years, reported Paris-based Alphaliner.

The cancellations have the consent of Yang Ming, which would have chartered the ships, naming them the YM Majesty, YM Modernity and YM Motherhood. They were part of a five-ship series ordered by Danaos in March 2007 to be operated by Yang Ming.

Already the YM Mandate was delivered last month while the YM Maturity will be delivered this month. Danaos' other containership orders with Hanjin Heavy will go ahead, having secured full funding from banks.
(Source:www.schednet.com)