Singapore-listed Jasper Investments announced that it has been unable to raise sufficient funds to take delivery of the Jasper Cosmopolitan accommodation semi-sub from China’s Yiulian Shipyard.

Jasper Investments ordered the vessel at the shipyard in 2011 and was supposed to take delivery of the vessel before August 31 this year.

Yiulian Shipyard has now exercised its right to seek to sell the vessel, with Jasper Investments intending to work collaboratively with the shipyard on the sale process and negotiate a profit share.