DSME faces vessel delivery delay

SOUTH Korea's Daewoo Shipbuilding and Marine Engineering has received a request from Atwood Oceanics to postpone the delivery of a pair of drillships.

News ID: 70516

Date: 05 December 2016 - 14:36

According to MANA, The offshore drilling firm based in Houston,Texas asked DSME to delay delivery of the drillships which were initially expected to change hands in 2015, a DSME official told Lloyd's List.
Atwood inked the newbuilding agreements with DSME for the two vessels worth $1.2bn.
"DSME is now in the process of negotiations related to the delay with Atwood," the official added.
An official from the Korea Development Bank, DSME's largest creditor, said both parties were conducting talks to work out a viable solution.