Talks extended on support rigs at Chinese yard

Prosafe and COSCO are still working on a commercial solution for three offshore accommodation/construction support rigs at COSCO’s Qidong shipyard in China.

Offshore staff

LARNACA, CyprusProsafe and COSCO are still working on a commercial solution for three offshore accommodation/construction support rigs at COSCO’s Qidong shipyard in China.

The Safe Eurus is in a preserved, strategic stacking mode, while the standstill agreement between the two companies for the Safe Nova and Safe Vega has been extended until June 14.

However, if no commercial solution materializes, Prosafe says it retains the right to claim cancellation of the newbuild contracts due to delay, and to claim repayment of instalments paid including interest of around $60 million in total, secured by a refund guarantee from Bank of China.

06/01/2018

More in Rigs/Vessels