Cosco (Dalian) will now not have to make any further awards to Dalian Deepwater Developer (DDD) having already repaid the first instalment of $110 million for the ultra-deepwater unit that was ordered in July 2010.
The shipyard revealed in late 2013 that DDD had sought arbitration in London after pulling the plug on the engineering, procurement, construction and turnkey delivery of the vessel Dalian Developer.
