The floating production, storage and offloading (FPSO) vessel Polvo has docked at Cosco Shipping Heavy Industry’s Dalian facility in China for refurbishment, even though the vessel’s owner BW Energy is yet to finalise the project finance.

Multiple industry sources said that Cosco is unlikely to initiate the upgrading process until funding is secured.

Despite BW Energy granting approval for initial work, it is limited to a preliminary assessment of the FPSO’s facilities to determine the scope of necessary upgrades.