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    GulfMark postpones delivery of Simek newbuild

    Vessel & ROV News // December 24, 2015

    GulfMark Offshore says it has entered into an agreement with Simek shipyard in Norway to delay delivery of its North Sea PSV vessel, which is currently under construction, from 2016 to 2017.

    Under the original agreement, GulfMark’s subsidiary paid 20 per cent of the construction price within three months of contract inception, and was to pay the remaining 80 per cent, or approximately US$33 million, in February 2016 on delivery.

    Under the new agreement, GulfMark’s subsidiary will take delivery of the vessel in January 2017 and will pay approximately US$2 million in the fourth quarter of 2015, approximately US$5 million in the first quarter of 2016, approximately US$4 million in the second quarter of 2016 and approximately US$22 million in the first quarter of 2017, on delivery of the vessel.
     

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