Cosco Corp of Singapore has seen two newbuilding contracts terminated at the same time as stretching the delivery of another unit by three years.
The Singaporean shipbuilder has also adjusted its outlook for the third quarter and said it now expects a bigger loss.
An unnamed shipowner has cancelled the contracts for two floating accommodation units (FAUs).
The first FAU has been cancelled after the shipowner asked to amend the contract under new terms, which were not acceptable by Cosco Nantong.
Another similar unit constructed for the same shipowner at Cosco Qidong has been also ditched, the shipbuilder said.
Teekay has taken delivery of an accommodation unit from a Cosco yard in February 2015, while Teekay-owned Sevan Marine also has newbuildings at Cosco facilities.
Cosco said it would make efforts to reach an amicable solution over the two newbuilding contracts.
At the same time, Oslo-listed Prosafe has agreed to delay the delivery of an accommodation vessel for three years.
The unit was slated for delivery in 2016 but this date has now been stretched to 31 December 2019.
As a result of the series of amendments, Cosco is expecting a higher net loss in its third quarter report, to be released on 11 November.
It posted a net deficit of SGD 82.1m ($59m) in the third quarter of 2015.
