So Fox Offshore are managing the MPV/ DSV Everest. (hat-tip: RD).
My only real point with this is that I don’t believe Keppel have been paid anything like the SGD 265m contracted build price. Fox may well do a good job of managing the vessel but they clearly don’t have the resources to pay for it. So are Keppel paying for the OpEx as well?
This is a material transaction for Keppel Oil and Gas given the size. It will be interesting to see from a disclosure point-of-view how long they can simply not update the market on their financial exposure here.