In yet another blow to Singapore’s hard pressed shipyards scene, PPL Shipyard, part of Sembcorp Marine, has terminated contracts with Integradora de Servicios Petroleros Oro Negro for the construction of three jackup rigs. The jack-up rigs have been technically accepted by Oro Negro but delivery of the rigs has been deferred.
The termination is made pursuant to the terms of the deferment agreements between PPL Shipyard and Oro Negro.
Sembcorp Marine and compatriot Keppel have been hit hard by the offshore downturn over the past four years, with both orderbooks dramatically whittled down.
