Dredgers cancelled at Asia HI

Belgium’s Jan De Nul NV has reportedly cancelled three dredging vessels on order at South Korea’s Asia Heavy Industries. The ships were scheduled to be delivered to the owner from August to December last year but the construction of the vessels has been delayed and ultimately the owner has quashed the orders.

The newbuilding contracts were reported to cost around $100m. It is said Jan De Nul NV had arranged refund guarantee from Meritz Fire & Marine Insurance and has demanded repayment.