Siem Offshore cancels shipbuilding contract with Remontowa Shipbuilding

With reference to the notice to Oslo Stock Exchange dated 30.12.2013 where Siem Offshore notified entry into shipbuilding-contracts with Remontowa Shipbuilding S.A. in Poland for four dual fuelled Platform Supply Vessels ("PSVs") of VS 4411 DF design. Siem Offshore has today cancelled PSV no. 4 in the series due to delay in the delivery.
Siem Offshore is covered with Refund Guarantees from an international bank for all pre-delivery installments made under the contract.