Helix Energy the latest to delay delivery from Sembcorp Marine

In another blow for Singapore’s Sembcorp Marine, Helix Energy Solutions Group has announced that it has delayed the delivery of its Q7000 semisubmersible well intervention vessel, under construction at Jurong Shipyard.

Delivery was originally scheduled for July 2017, however the two parties have agreed to delivery to December 2017. Additionally, Helix has options to extend until as late as December 30, 2018.

Helix signed the deal with Sembcorp Marine in September 2013, and has already paid 20% of the contract price. It will pay the remaining 80% in three installments, scheduled for 20% in June 2016, 20% upon issuance of the completion certificate and the remaining 40% upon delivery.

Last week, Sembcorp Marine reached a standstill agreement with North Atlantic Drilling for the semi-submersible rig West Rigel under construction at Jurong Shipyard, which could see the shipbuilder become an asset owner should the two parties not find a buyer or employment for the rig. In November, Sembcorp Marine and Prosafe agreed to a flexible delivery of Prosafe’s latest accommodation vessel Safe Zephyrus, which is also under construction at Jurong Shipyard.

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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