Utkilen cancels three chemical carriers

Norwegian shipowner Utkilen has cancelled an order for three 9,500 DWT chemical tankers at Italian shipyard Cantiere Navale De Poli. The ships had been scheduled for delivery in 2008 and this year but, in January, the yard entered into a voluntary liquidation process because of financial difficulties.

Utkilen’s annual report for 2008 reveals that the contracts have been cancelled and that the refund guarantees securing yard instalments with interest were exercised. In February, EUR 36.6m ($50.9m) was refunded.