‘Siem Daya 1’ saga continues

Malaysian Daya Offshore Construction and Norway’s Siem Offshore have once again prolonged the sale completion of the Offshore Subsea Construction Vessel (OSCV) Siem Daya 1, this time until September 30, 2015, Siem Offshore said Wednesday.

Siem Daya 1 is already on a long-term charter with Daya Offshore Construction.

When Daya shareholders approved the purchase of ‘Siem Daya 1’ in June, for $120 million, the parties agreed on extending the deadline for payment of the $10 million deposit until July 15, 2015. The original deadline was June 30, 2015.

On July 17, Siem Offshore announced that the Malaysian company paid-up the deposit and that the sale transaction completion date was set for August 31.

The parties have now agreed to delay the delivery, as the vessel is currently engaged in a project. Also, October 15 was set as cancelling date.

The Norwegian company added that all other terms and conditions would remain valid and in full force and effect.

The Siem Daya 1 is designed for subsea operation duties such as construction and installation work, inspection and maintenance.

Offshore Energy Today Staff

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