Sembcorp Marine goes into arbitration with Marco Polo Drilling

Sembcorp Marine goes into arbitration with Marco Polo Drilling

Sembcorp Marine has announced that its subsidiary PPL Shipyard has served a notice to commence arbitration proceedings against Marco Polo Drilling in order to solve a contract dispute between the two companies.

Marco Polo Drilling cancelled its order for a Pacific Class 400 jack-up drilling rig at Singapore’s PPL Shipyard, which MP said was due to the yard’s “failure to comply with certain of its material contractual obligations”.

However, Sembcorp Marine disagreed with the allegations from Marco Polo and regarded it as repudiatory breach of the contract.

Sembcorp Marine commenced an action in the Singapore High Court on December 2015 against the parent company of Marco Polo Drilling, Marco Polo Marine, the guarantor, for the amounts due under the contract.

Sembcorp Marine said it will make further announcement when necessary.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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