Boxship cancellations worries HHI

According to industry sources, Rickmers Group has officially decided to cancel the orders placed with HHI for four 8,500 TEU and five 7,000 TEU container ships worth an estimated $1 billion. An official of HHI has said in response that the orders have not been cancelled yet and the two parties were currently undergoing discussions. However, with the recent contract cancellation for five oil tankers ordered by a Greek shipping company, the shipbuilder is concerned.