Houston-based Helix Energy Solutions and Jurong Shipyard entered into a second amendment to delay the construction of Helix’s Q7000 newbuild semisubmersible well intervention vessel.
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Image from Helix Energy Solutions. |
The newbuild was to be delivered on 30 July 2017, however, according to the new deal, the Q7000 will now be delivered on 31 December 2017.
In addition, Helix subsidiary Helix Q7000 has options to extend the scheduled delivery until as late as 30 December 2018. The US$346 million contract was originally signed in September 2013.
Helix Q7000 paid 20% of the contract price upon the execution of the contract in September 2013. Prior to the second amendment, the remaining 80% of the contract price was to be paid in two installments, with 20% on 25 June 2016 and 60% upon delivery of the vessel, which was scheduled for July 2017.
With the signing of the second amendment, the remaining 80% will now be paid in three installments, with 20% on 25 June 2016, 20% upon issuance of the completion certificate, which is to be issued on or before 31 December 2017, and 40% upon delivery of the vessel.
In addition, Helix Q7000 will pay $28,438 per day for incremental reimbursements to Jurong Shipyard for the period beginning the day after the earlier of the issuance of the completion certificate and 31 December 2017, and ending upon delivery of the vessel and Jurong Shipyard’s reasonable costs arising out of or in relation to the deferment of the delivery that are directly attributable to Jurong Shipyard’s maintenance or construction of the vessel.
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