The dispute between Singapore offshore vessel builder Penguin International and Wartsila has moved up a gear with legal proceedings now underway.

Penguin has filed a writ seeking compensation for loss or damage arising from the cancellation of a $25m order from Abu Dhabi National Oil Co (Adnoc) for two standby vessels.

James Tham
The dispute has been simmering since the deal was terminated last year when Penguin booked an impairment provision of $18.8m.

Penguin