Hyundai Heavy Industries and IHC Merwede are reportedly left in the frame to win a newbuilding contract with Subsea 7.

The shipowner has tendered for a pair of flex lay vessels worth around $800m.

The deal would consist of one firm vessel with an option for a second.

IHC is said to be offering an attractive financing package.

Meanwhile, on November 22, Subsea 7 has signed a contract with HHI to build a new Dive Support Vessel (DSV).