ASL Marine hit by another OSV contract cancellation

ASL Marine Holdings' wholly owned subsidiary has reached a mutual agreement with a customer to cancel shipbuilding contracts for two offshore support vessels (OSV).

In an announcement on Saturday, the integrated marine firm said it is confident that there will be demand for "these high quality vessels" and that it has already started talks with potential buyers or charterers for the vessels.

One of the vessels will be ready for operation by the end of first-quarter 2015 and the other in the third quarter.