Zhongchang Marine signed a deal for two 47,500-dwt ships in 2010 together with Minsheng Financial Leasing but Zhongchang cancelled the first vessel last year to cut its operational costs.
Zhongchang told the Shanghai Stock Exchange this week that the filing gave it the right to cancel the remaining ship and it has written to the yard demanding a refund of CNY 70m ($11.18m).
