Delivery of the subsea vessel ordered from Norway’s Havyard Ship Technology in July has been delayed from Q2 2017 until Q2 2018.
The buyer of the Havyard 858 WE subsea vessel (known as building no. 123; pictured) has not been identified.
Parent company Havyard Group said today the delay was due to “the difficult market situation for offshore vessels internationally”.
“Furthermore, it is agreed that the buyer has the right to cancel the contract in March 2016, provided that the buyer in advance has paid Havyard Ship Technology AS an agreed amount,” said Havyard Group in an exchange filing.
The newbuilding contract for the vessel was valued in July at around NOK 700m ($88.8m), as Splash reported previously.
The Havyard 858 L WE is designed for IMR and light construction work on subsea installations.