Nordic American Offshore in PSV hold-up

Nordic American Offshore Ltd. (NAO), an offshore shipping company, has agreed with the Norwegian based Vard Aukra shipyard to extend the delivery of two Platform Supply Vessel (PSV) newbuildings. 

Vard and NAO signed the deal for the delivery of two PSVs in June 2014. The vessels were originally scheduled to be delivered in mid-2015.

The ships are now scheduled to be delivered during the first quarter of 2016 when NAO will take ownership.

The price of the vessels is about $43m each. According to NAO, the vessels are fully financed and the manufacturing process is developing satisfactorily.

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