Vantage Drilling, in which Nobu Su has a major stake, confirmed in a statement late Monday that work had ceased on the Palladium Explorer.

STX has commenced, with the support of the Korean Development Bank and its other banks, to significantly restructure STX’s operations and finances,” Vantage said.

“In connection with these restructuring efforts, STX has currently suspended construction efforts for the Palladium Explorer.”

Sigma