Brief: Mermaid Maritime says vessel under construction cancelled by mutual agreement

Mermaid Maritime PCL

07/12/2016 10:09

Dec 7 (Reuters) - Mermaid Maritime Pcl MMPC.SI  
    * (Mermaid's Newbuild Subsea Vessel Under Construction 
Cancelled By Mutual Agreement)  
    * mutually entered into a settlement agreement to terminate 
construction contract for vessel effective 6 december 2016 
    * Settlement also ensures that owner shall have no 
obligation to pay balance payment 
    * us$ 124.8 million is balance of contract which would have 
been due to builder upon delivery of vessel pursuant to  
contract 
 
Source text for Eikon:  ID:nSNZ7MdkMs  
Further company coverage:  MMPC.SI  
 
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