Cosco Corp, which owns 51% of Cosco Qidong’s parent Cosco Shipyard Group, said that the yard had mutually agreed to extend the delivery date of the harsh environment semi-submersible accommodation rig that was originally scheduled to be delivered in Q1 this year, and construction is currently “ongoing”.
Under the agreement delivery is delayed until 15 July 2016, however the owner can take delivery at any time the rig is completed, giving not less than 30 days notice to the yard.
If Axis decides to exercise its right to cancel the rig it cannot do so before 30 June 2016.
“In view of the rescheduling and the uncertainty as to when the shipowner will take delivery of the rig, it is not possible to ascertain the financial impact of the agreement for rescheduling at this point in time,” Cosco Corp said.
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