Indian shipbuilder Reliance Naval and Engineering Ltd (RNEL) has failed in a legal bid to overturn the cancellation of the last four of 12 delayed OSVs by domestic energy company ONGC.
The ships were originally ordered for nearly $112m in 2009 when the yard was called Pipavav. The 2,500-dwt platform supply vessels (PSVs) were due by the end of 2011.
ONGC took delivery of ships one to seven in the series between 2012 and 2016.
The yard had been taken over by Reliance in 2015.
The shipbuilder made a series of requests to delay delivery, ONGC said in a statement.
The last extension request expired in May this year, when the order was terminated by ONGC.
RNEL challenged this with a court writ, but the attempt failed at the end of November, ONGC said.
Livemint reported claims totalled around $22m.
The Indian high court ruled that RNEL would have to pursue the matter through the arbitration route specified in its contract.
