subsea mining vessel challenges at nautilus

Shipyard says subsea mining vessel buyer misses payment

MARINELOG | 12 December 2017

“A sub sea mining support vessel project has run into a problem. Vancouver, BC, headquartered Nautilus Minerals Inc., which plans to time charter the vessel for five years on its delivery, says it has been notified by China’s Fujian Mawei Shipbuilding that MAC Goliath Pte Ltd, the buyer of the vessel, has failed to pay the third installment of the contract price (about US$18 million interest).

Nautilus says it is in discussions with the Shipyard, MAC and third parties with respect to the default and potential remedies, and will issue further updates as matters develop.”

Read the full article on Marine Log

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