Cypriot owner Prosafe has stretched a standstill deal with shipbuilder Cosco over the delivery of two new floatels.
The agreement has been extended into December as the two parties continue talks over a "workable commercial solution" for the newbuildings Safe Nova and Safe Vega.
Prosafe has the right to cancel the contracts due to delay and claim a refund of the instalments, plus interest, equal to $60m secured by Bank of China.
