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December 19, 2005

Daewoo reportedly cancels Frigstad rig order

Dow Jones is reporting that Daewoo Shipbuilding and Marine Engineering has made a filing with Korea's Financial Supervisory Service to the effect that it has canceled the contract for the two semisubmersibles ordered by Frigstad Offshore.

If your Korean is up to it, you can look for the filing at http://www.fss.or.kr.

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