H&W Decision To Come Soon

Norwegian offshore group Fred Olsen Energy said it aimed to resolve next week the fate of its Northern Irish Harland shipyard, famed for building the ill-fated Titanic. It said in a statement that its board of directors had met on Thursday to address the "present difficult situation at Harland and Wolff" and that "alternatives were being considered with a view to agree on a way forward during next week". It said the yard's future was at risk due to a refusal by American rig owner, Global Marine, to pay a final delivery installment of $34.09 million on completion of the Glomar Jack Ryan deepwater drillship.