Singapore offshore support vessel operator Pacific Radiance says that a charter it won in 2014 for a newbuild vessel due to commence upon delivery of the vessel “in 2016/17” has been delayed.
The charter deal with an unnamed client, has been delayed until December 31, 2017. The parties involved have also agreed to market the vessel for alternative employment in the meantime.
Pacific Radiance says the deal is worth $140m including extension options.
Earlier this week Pacific Radiance announced that executive director Mok Weng Vai was arrested last Friday by Singapiore’s Corrupt Practices Investigation Bureau and subsequently released on bail.