SOUTH KOREAN YARDS HIT HARD AS OIL PRICES NOSE DIVE

摘要

Fred oslen energy has announced that its Bollsta Dolphin Ptd. Limited subsidiary has terminated its newbuild contract with one of the world's largest shipbuilders, Hyundai Heavy Industries (HHI). Under the contract, HHI was to build the Bollsta Dolphin, a Moss CS 60 E, sixth generation ultra deepwater semi-submersible. The termination was the result of delay in delivery of the rig, which had itself been under contract to Chevron North Sea Limited. The Chevron contact has since been "mutually terminated" on "amicable terms." After termination with HHI, Bollsta is entitled to a refund of the first installment paid to the yard (U.S. $186,390,240) plus accrued interest.