Axis Offshore delays Cosco accommodation rig

Axis Offshore delays Cosco accommodation rig

Oslo: Oslo-listed Axis Offshore has come to an agreement with Cosco Qidong shipyard to delay the delivery of the harsh environment semi-submersible accommodation rig Axis Nova until 15 July 2016. The rig was originally scheduled for delivery in the first quarter of this year.

Axis Offshore said it will as consideration partially waive any accrued liquidated damages due to delay.

Cosco Corporation, the Singapore-listed parent of Cosco Qidong, said in a statement: “In view of the rescheduling and the uncertainty as to when the shipowner will take delivery of the rig, it is not possible to ascertain the financial impact of the agreement for rescheduling at this point in time.”

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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