Havyard cancels Fafnir Offshore PSV contract

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 worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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