Ezra cancels two vessels with Karmsund

Singapore’s Ezra Holdings has cancelled two deep water multi functional vessels at Norwegian shipbuilder Karmsund Maritime.

Ezra said that Karmsund had given them notice of not being able to complete and deliver the vessels in accordance to the contracts. Ezra’s subsidiary, Lewek Shipping is entitled to a refund of the advance payments that it has already made to Karmsund, totaling US$25.5 million. The vessels were ordered in September and October 2007 and were to have been delivered in the second half of 2010.

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