Korean owner Pan Ocean has cut back its newbuilding programme again, dropping two open-hatch general cargoships.
The former STX group company said this has knocked another $100m off the original $1bn price tag of a 2010 order for 20 such ships, plus six kamsarmaxes, at STX Offshore & Shipbuilding.
The deal is now worth just $300m.
It said the latest move had been made "due to the financial difficulty of the shipyard."
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