Croatian company cancels contract with Vietnamese shipyard

Atlantska plovidba, a Croatian shipping company based in Dubrovnik, has cancelled a contract with Vietnamese shipyard Ha Long for construction of a ship. On Atlantska plovidba’s website, the company says it did so because of potential delivery problems. The Croatian media, however, are speculating the real reason could be the world economic and financial crisis. The daily Business.hr says the Croatian company may have concluded it would not a new ship for quite a while.
The shipyard has returned Atlantska plovidba’s down-payment for the ship.