FLEX LNG said on Wednesday that commercial settlement discussions have resumed with Samsung Heavy Industries (SHI).
“ It is too early to say whether these negotiations will result in an acceptable outcome for the company and its shareholders and FLEX LNG will update the market if these discussions develop further, ” the company said in a statement.
As previously reported, FLEX LNG has commenced arbitral proceedings against SHI to secure the repayment of funds, after giving credit for cost properly and reasonably incurred by SHI on FLEX LNG’s behalf.
These proceedings are moving forward as expected, the company added.
[mappress] LNG World News Staff, July 3, 2013; Image: FLEX LNG