Cyrpriot owner Prosafe has once again stretched a standstill agreement with shipbuilder Cosco over the delivery of two new floatels.
This marks the third time that talks have been prolonged as both parties seek a "workable commercial solution" for newbuildings Safe Nova and Safe Vega.
Negotiations were first extended in October to December, and then to late April of this year. They have now been given a 20 May deadline.
In addition, Safe Eurus, a third floatel, sits in a "preserved, strategic stacking mode" at Cosco (Qidong) Offshore in China as talks continue over this vessel as well.
Oslo-listed Prosafe has the right to cancel the newbuild contracts due to delay, and claim repayment of the instalments, plus interest, of $60m secured by Bank of China.
