Lost order could cost BAE £150m

BAE Systems could lose up to £150m from a cancelled order for three offshore patrol ships, after Trinidad and Tobago said they wanted to back out of the deal. The first of three ships, which are built in portsmouth, was set to be delivered within the coming weeks but the defence group received notification from the Caribbean island that they were no longer needed. BAE said it would talk to the Trinidad government in a bid “to find an equitable solution”. The deal was originally signed by VT Shipbuilding in April 2007. BAE acquired the contract when it acquired parts of VT in October 2009.