Havyard stalls delivery date for subsea vessel newbuild

Havyard Group has signed an agreement for postponement of delivery of a newbuild vessel to an unnamed shipping company, due to the difficult market situation for offshore vessels internationally. 

In July 2015, Havyard inked a deal worth NOK 700 million ($83.3M) to design and build a Havyard 858 L WE subsea vessel for an international shipping company and scheduled the delivery date for the second quarter of 2017. However, with this new agreement, the delivery date has been moved to the second quarter of 2018.

Furthermore, it was agreed that the buyer has the right to cancel the contract in March 2016, provided that the buyer in advance has paid Havyard an agreed amount.

The vessel design was developed by Havyard Design & Solutions in Norway. It will perform Inspection Maintenance and Repair (IMR) and light construction work on subsea installations and it will be able to accommodate 140 people in single and double cabins.

Offshore Energy Today Staff

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