Malta Drydocks Loses $7M Conversion Contract

Wednesday, January 24, 2001
Hebridean Island Cruises has pulled out of a $7 million conversion contract with Malta Drydocks and awarded it to a British yard instead, the Malta company said on Tuesday. Scotland-based Hebridean had already issued a letter of intent in favour of Malta Drydocks for the conversion of a modern ship into an old style classic cruise liner, the Malta firm said. Malta Drydocks did not reveal the name of the U.K. yard or the name of the cruise liner. The Maltese yard recently won a $6 million contract to convert the tanker Northia, owned by Brovig RDS of the UK, into a floating production storage and off loading unit and another $6 million contract for maintenance work on the U.S. sixth fleet flagship La Salle. – (Reuters)

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