Greek offshore owner Toisa and its UK-based subsidiary, fleet manager Sealion Shipping, are thought to be chopping up to one-third off the newbuilding price of a diving support vessel (DSV) by building the ship in China at a time when demand remains high for DSVs.

Toisa and Sealion, backed by well-known Greek investor Gregory Callimanopulos, have signed a contract at Shanghai Zhenhua Heavy Industries Co (ZMPC) for a large multipurpose DSV to be delivered in 2017.

Although