Indian shipbuilder Reliance Naval and Engineering Ltd (RNEL) has failed in a legal bid to overturn the cancellation of the last four of 12 delayed OSVs by domestic energy company ONGC.
The ships were originally ordered for nearly $112m in 2009 when the yard was called Pipavav. The 2,500-dwt platform supply vessels (PSVs) were due by the end of 2011.
