SINGAPORE– COSCO Qidong Offshore Co. Ltd. has agreed to extend the delivery of a harsh environment semisubmersible accommodation rig to Axis Offshore. The original delivery date of 1Q 2015 now is July 15, 2016.
Axis can take delivery anytime the rig is completed by givingCOSCO Qidong at least a 30-day notice. On the other hand, if Axis decides not to take delivery, it cannot exercise that right before June 30, 2016.
The semisubmersible currently is under construction.