Work on the unit at the Keppel Verolme yard in Rotterdam has been halted.
The company has spent the past month trying to find a solution after it became clear that it needed another¤100 million ($158 million) to meet a 25% cost increase for the MPU Heavy Lifter, partly caused by higher steel and concrete prices.
The hunt for cash was not made easier after main owner Solstad Offshore refused to put any more money into the venture.
Possible
