Oslo-listed Jinhui Shipping and Transportation has cancelled a deal to buy a supramax bulker due to its late delivery.

The company agreed in April to acquire two ships, the 50,220-dwt Aifanourios (built 2002) and the 50,354-dwt Aigeorgis (built 2001), for $6.25m and $5.75m from Lou Kollakis-led Chartworld Shipping of Greece.

It has now torn up the contract for Aifanourios.