Singapore owner Pacific Radiance has said it has agreed with a counterparty to scrap a $140m-plus newbuilding OSV charter.
The deal for the unspecified OSV was inked in 2014 through the joint venture with DOT Holdings, DOT Radiance, for delivery in 2016/2017.
A yard has never been revealed, but the company said in 2016 that the unnamed charterer had asked to delay delivery until 31 December last year while alternative employment was sought.