Siem Offshore, Kleven cancel shipbuilding contracts

Siem Offshore and Kleven yard have agreed to cancel two shipbuilding contracts for AHTS vessels.

Offshore staff

KRISTIANSAND, Norway -- Siem Offshore and Kleven yard have agreed to cancel two shipbuilding contracts for AHTS vessels. Capacity issues with major subcontractors as well as the general market turmoil were instrumental factors for both companies.

The cancelled contracts had delivery dates in August and September, and represented two of ten shipbuilding contracts for AHTS vessels ordered by Siem Offshore.

The yard confirmed that it expects to deliver the remaining AHTS vessels under construction on or about the contractual delivery dates.

03/23/2009

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