Paragon Shipping has not taken a delivery of a Chinese-built ultramax, according to the company.
The Athens-based company said it received a notice of default from Yangzhou Dayang Shipbuilding for not taking delivery of the ultramax dry bulk carrier with hull number DY4050.
The Michael Bodouroglou-led company still has listed that it will take delivery of three kamsarmaxes from Jiangsu Yangzijiang Shipbuilding, which will be delivered later this year.
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