Dutch contractor Fugro must pay out $26.7m after losing an arbitration case over the early cancellation of an offshore support vessel (OSV) charter.
Calling the outcome "unfavourable", Fugro said its Singapore arm has been involved in proceedings with Singapore owner Tasik Toba Subsea. The case centres on its move to hand back the 4,500-dwt diving support vessel Southern Star (built 2017) to Tasik in March 2019.
