DSME deal with Iran breaks down

DSME yard

Daewoo Shipbuilding & Marine Engineering Company has announced the failure of a potential deal to build jack-ups for Iran.

The company said a memorandum of understanding signed with an Iranian client had expired and no further discussions took place over resurrecting the agreement, TradeWinds News reported.

DMSE signed the MoU in September last year, but did not finalize the contract.

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