DEME Group has confirmed that it is in direct negotiation with Spanish shipyard La Naval to find a solution to the completion and delivery of its new cable lay vessel, Living Stone.
Living Stone was due to be delivered to the company in Q3 2017, but completion of the vessel has been delayed by ongoing financial problems at the yard, which is understood to be close to bankruptcy.
A DEME spokesperson has confirmed to OSJ and sister journal OWJ that the yard has missed a number of deadlines. As a result DEME offered to pay subcontractors working on the vessel directly, in order to get it completed as soon as possible.
The owner also confirmed that it recently made an abortive attempt to have the vessel towed from the yard in order to have it completed elsewhere, but was prevented from doing so by local authorities.
Senior management at the owner are understood to have met with representatives from La Naval to try to find a solution to the problem.
DEME Groupís new cable lay vessel has already been awarded three contracts.