Dubai's Marine Assets Corporation (MAC) has missed an instalment on a new mining ship in China.
Canada-listed Nautilus Minerals, which will charter the vessel for $199,910 per day over five years, revealed the default in a stock exchange release.
It said Fujian Mawei Shipbuilding had told it of the missed third payment of $18m plus interest for the ship, which is due to be delivered at the end of this year.
