Mosvold Supply, Norwegian offshore owner, cancelled the fourth and final AHTS order at the Singapore-listed shipbuilder Otto Marine because of delays.
Otto was due to hand over the ultra-large anchor handler from its shipyard in Batam, Indonesia last July.
The yard had a 180-day grace period to deliver the vessel but there appeared little chance of that happening after the first three vessels were canned, and the final deadline has now expired.
Mosvold turned to Otto in 2007 with an order for two of the high spec offshore vessels at a cost of $77m apiece and exercised options for another pair later that year.
Otto was supposed to handover the first vessel at the end of 2009 but it never appeared and was cancelled in May of the following year. The second ship was binned last May followed by the third in July.