Croatia-based start-up Triumph Subsea insists it has strong financial backing after a potential $500m order for offshore wind farm ships collapsed in the UK.

But it will press ahead with its remaining newbuilding programme in Croatia.

The company and UK group InfraStrata have entered into a war of words following the failure of the deal for one firm and one optional 200-metre wind farm development (WDV) vessel at Harland & Wolff shipyard in Belfast.

Triumph has said it cancelled a letter of intent (LOI) due to a lack of detailed plans and rising costs at the shipyard.