Songa Offshore sees Daewoo Arbitration Lasting into 2018
Rig firm Songa Offshore's CEO Bjoernar Iversen expects the company's arbitration case with DSME (Daewoo Shipbuilding & Marine Engineering) to last throughout 2017 and into 2018.
** Songa received notices of arbitration from DSME in July 2015
** Claims of $373 million received from DSME in November 2015 for the two rigs Songa Equinox and Songa Endurance
** Songa submitted its response to DSME's claim and a $66 million counterclaim against DSME in March 2016
** CEO says DSME is responsible for delays and cost overruns on the rigs
** CEO: We believe we have a very, very strong case.
Reporting By Ole Petter Skonnord
