PaxOcean Holdings confirms it has reached an “amicable settlement” with the owner of now-defunct Hallin Marine over a cancelled $140m newbuilding, the 85-metre CSS Derwent (built 2014).
Although already widely believed to have been reached, confirmation of the agreement officially paves the way for a sale of the specialised semisubmersible catamaran, which was earlier reported by TradeWinds to be at the centre of a “feeding frenzy” of interest.
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