Norwegian shipbuilder Vard’s actual break-even price on a stranded $120m newbuilding is unclear but retained instalments from the now-defunct client are a good sign that it has “some wiggle room” on making a profit, offshore brokers say.

Five years after its original contracting date in December 2013 and approaching two years after its scheduled delivery in 2016, the 121-metre diving support vessel (DSV) Haldane (ex-Harkand Haldane) is still sitting at the quayside in Norway.