Havyard cancels Fafnir Offshore PSV contract

Norwegian yard Havyard has cancelled a PSV newbuild contract with Iceland’s Fafnir Offshore after the owner failed to make an additional pre-delivery payment which was part of an agreement to delay delivery of the vessel.

Fafnir Offshore ordered the platform supply vessel at Havyard in April 2014, while in December 2015 the two parties agreed to postpone delivery from March 2016 to June 2017.

Havyard said that Fafnir Offshore has not managed to secure long-term employment for the vessel, leading to issues with financing.

Havyard said it would seek to claim further compensation for its losses and market the vessel for an alternative sale.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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