Commercial court judge Mr Justice Cooke ruled that Hansa Murcia KG was wrongto tear up a deal at Nantong Huigang Shipbuilding in a row over a refund guarantee.

The company is thought to be a single-ship entitycontrolled by Leonhardt & Blumberg (L&B), which ordered four 900-teu boxships for$17m each at the yard in 2004.

Both parties agreedin 2009 to delay delivery, however, until October 2011.

The