S.Korea Hanjin says $298 mln ship order cancelled

South Korea's Hanjin Heavy Industries & Construction Holdings said on Wednesday that a ship order worth 372.8 billion won ($298.2 million) had been cancelled. The company said its shipmaking unit, Hanjin Heavy Industries & Construction, had agreed to cancel an order placed in 2007. An unidentified European shipping company that ordered container ships with Hanjin was unable to come up with financing, it said in a filing with the Korea Exchange.
The cancellation would affect three container ships out of a total fo five ordered and Hanjin would retain the deposits it has received so far, it said.