Fox Offshore managing MPV Everest…. How much have Keppel been paid?

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.

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