A Nigerian owner has cancelled a newbuilding contract for a subsea vessel under construction at Havyard.
The Norwegian shipbuilder will receive compensation, while it attributed the cancellation to the continuing challenges in the offshore market internationally.
Planned delivery of the vessel was initially set for mid-2017 and the two parties decided to postpone it by one year last October.
Havyard’s client is believed to be Nigeria’s Marine Platforms Ltd (MPL), led by founder and chief executive Taofik Adegbite.
According
