Cancellation of newbuilding contract at Daehan

Golden Ocean Group Limited has decided to exercise its right under the shipbuilding contract for the vessel to be named M/V "Golden Changi" to cancel that contract. Golden Ocean (through its nominated buying company, Golden Changi Inc) is entitled to be reimbursed by the builder, Daehan Shipbuilding Co Ltd of Korea, for the installments of the price paid to date, with interest.
(Source:www.transportweekly.com)