Yujin gets $6m refund from Chinese yard

Asia-based small tanker owner Yujin International has managed to claim back about $6m of advanced payment made earlier for a pair of chemical tankers being built at a Chinese shipyard.
Yuijn revealed that it has reached a settlement with the shipbuilder that all advance payments made by the owner to the yard will be refunded, including interest.
“The yard shall be discharged from all claims arising from the shipbuilding contract upon their full payment. Funds have been received totalling approximately $6m,” London-listed Yuijn said.
Yujin cancelled its order for the 5,500 dwt chemical tankers last year with the yard due to delays.
In late April, Yujin aborted plans to delist from the London Stock Exchange after it was approached by an unnamed investor.
The delisting plan was broached as Yuijn had felt its share price was undervalued due to a lack of liquidity in trading.
Source: Seatrade Global