Heavy lift cancellation due to shipyard bankruptcy in China 14.05.2018

Reference is made to stock exchange release dated 18 May 2017. The contract which regards heavy-lift cranes is cancelled due to a shipyard bankruptcy in China.


The contract was signed through the 50/50 owned subsidiary TTS SCM Marine and Offshore Machinery Company, and had a value of approximately MNOK 240.


The contract is now re-tendered through other shipyards, and TTS considers that the company has a reasonable chance of getting the new order.