Odfjell, which specialises in the transportation and storage of bulk liquid chemicals, has cancelled three out of six chemical tankers it had ordered from Chongqing Chuandong Shipbuilding Industry at the beginning of 2008. Under the termination agreement, the Norway-based company will receive US$30m.

The three remaining 9,000 dwt chemical tankers are expected to be delivered between December 2011 and April 2012. These tankers will replace smaller, existing vessels operated by Odfjell in the Asia region.