Fafnir Offshore delays delivery of award-winning PSV at Havyard

Fafnir Offshore delays delivery of award-winning PSV at Havyard

Havyard Ship Technology has signed an agreement with Iceland’s Fafnir Offshore to postpone the delivery of a Halyard 833 platform supply vessel from March 2016 to June 2017.

The Arctic PSV, named Fafnir Viking, was ordered in April 2014 by Fafnir, their second PSV ordered from Havyard. The vessel won an offshore environment award last year due to its hybrid battery-powered diesel-electric propulsion system, the same as that for hybrid cars.

In a statement on Oslo Bors, Halyard said that Fafnir has not managed to secure long-term employment for the vessel, leading to issues with financing. The company will increase its payments during the construction period and pay compensation for the postponement.

Havyard said the deferral will have a negative effect on 2015 results to the tune of around NOK20m ($2.3m) due to lower capacity utilization at the yard and NOK 10m ($1.15m) due to deferral of margins.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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