Bocimar shed light on the revelation in a third-quarter earnings report issued by its parent, Compagnie Maritime Belge (CMB).

In the release the owner told investors it decided to pull the plug because Samjin is bankrupt but noted it has already recouped advances.

"The advances paid for all the cancelled vessels, including interest, have already been reimbursed or are expected to be reimbursed shortly," it said.

Coupled