Construction of the floating production, storage and offloading vessel for JX Nippon’s Layang project in Malaysia is suspended while the project's main contractor TH Heavy Engineering addresses its severe financial problems, writes Russell Searancke.
That main contractor Malaysia’s TH Heavy said in the year ended 31 December 2016 it recognised an impairment charge of 259.1 million ringgit on the FPSO, plus an impairment loss of 35.4
