DSME warns of arbitration case against Songa Offshore
An arbitration case regarding four drilling rigs risks hitting Songa Offshore, which is having the rigs built at the Korean yard DSME, which in turn is rumored to be in severe financial problems.
BY KATRINE GRØNVALD RAUN
The Korean yard Daewoo Shipbuilding & Marine Engineering (DSMW) has submitted reports of an upcoming arbitration case against Swedish Songa Offshore, the company writes in a statement. The arbitration concerns the construction of four semisub-rigs which Songa has developed along with Statoil. The rigs have been delayed significantly and have meant huge cost overruns for DSME, Songa Offshore writes.
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