Malaysian offshore shipbuilding and repair specialist TAS Offshore has been given a notice of termination from QMS1 Offshore Services, part of Zakher Marine International, for two anchor handling and tug supply vessels under construction at the yard.
TAS says that the termination is not valid and it intends to proceed with legal proceedings.
The vessels were ordered by the Middle Eastern company in January 2015 as part of an order for three vessels, the other vessel being an offshore construction vessel.
TAS Offshore’s share price dropped 8.25% today on the back of the termination.
