KS Drilling cancels jackup rig at ZPMC

KS Drilling cancels jackup rig at ZPMC

Singapore’s KS Drilling, part of KS Energy, and China’s ZPMC have mutually agreed to terminate the newbuild contract for jackup rig KS Java Star 3 with immediate effect.

The termination agreement was reached following discussions between the two companies, and KS Drilling will write-off the $12.6m already invested in the project.

The jackup rig was originally ordered in 2014.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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