PPL Shipyard cancels Oro Negro jackup rigs deal

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
Back to top button