John Fredriksen-backed Northern Drilling has cancelled the resale contract of a second drillship on order at Daewoo Shipbuilding & Marine Engineering (DSME).
The company said it had called off the deal for the West Libra due to a "delay of delivery as well as repudiatory breach of contract".
Northern Drilling subsidiary West Libra Inc said it had made advance payments totaling about $90m to DSME.
