Cooke Chile has cancelled its contract with Norwegian aquaculture equipment supplier Akva to supply a land-based salmon hatchery in Chile as coronavirus takes a heavy toll on the sector.

The project was expected to be completed between the first quarter of this year and the fourth quarter of 2021.

In 2019, Akva also entered a sale and purchase contract for four feed barges with Chile-based Australis Mar, the grow-out, processing and sales arm of Chile's Australis Seafoods.

Akva reported strong full-year financial year results as it doubled order intakes and signed significant contracts in 2019.

The group's earnings before interest, tax, depreciation and amortization (EBITDA) jumped 14 percent year-on-year to NOK 272 million (€24 million/$26.3 million).

This comes as Akva's order intake surpassed the NOK 4 billion (€355 million/$388 million) mark, almost double the intake the company reported in 2018.