Norway's Solstad Offshore is to receive a payment of $48.25m in June to settle a charter row with Italy's Saipem.
An eight-year contract for the Solstad-managed 177-loa leased multifunctional support vessel Normand Maximus (built 2016) was torn up by Saipem four years early in 2020.
Solstad had been pursuing an unpaid termination fee and other claims.
