Vard Could Be Stuck with Harkand’s Newbuild

Following the financial crash of Harkand Group, that saw four charter deals terminated and over 170 jobs lost, it remains to be seen what the future holds for the newbuild DP3 dive support vessel the Harkand Haldane, which was scheduled for delivery in Q2 2016.

Namely, the vessel is in an advanced stage of construction at Vard, originally contracted in December 2013 for delivery from Vard Søviknes.

Vard said that if Harkand unlawfully terminates the shipbuilding contract it will contractually be entitled to retain the advance payments already received and to resell the vessel.

“The payments already received, equivalent to 20% of the original contract price, could facilitate a resale of the vessel,” the company said in a press statement.

According to Vard, the value of the contract, which comprised an option to place an order for a second similar vessel, exceeded NOK 1 billion.

Subsea World News Staff

Share this article

Follow Subsea World News

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

More info

read more >

OCEANS 2019

OCEANS is the bi-annual event for global marine technologists, engineers, students…

read more >

OTC Brasil

The conference is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum…

read more >

Europort 2019

Europort, organised in the world port city of Rotterdam, will be the leading exhibition for special purpose vessels…

read more >