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Samsung Heavy says client cancels drill ship order worth US$702 bln

2018/02/12 18:32

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SEOUL, Feb. 12 (Yonhap) -- Samsung Heavy Industries Co., a major South Korean shipbuilder, said Monday that its client has canceled an order for a US$702 million drill ship.

The shipbuilder said it will not return an initial upfront payment of $76.6 million to Ocean Rig UDW Inc. as the offshore drilling contractor was to blame for the cancellation of the 2014 order.

Samsung Heavy said it has not started the construction of the ship.