Sembcorp Marine terminates Petroleum Teknologi jackup pair

Singapore’s Sembcorp Marine has announced that its subsidiary yard PPL Shipyard has terminated contracts with Malaysia’s Perisai Petroleum Teknologi for the construction of two jackup rigs following the expiry of the existing deferment agreements.

Perisai ordered the two rigs, Perisai Pacific 102 and Perisai Pacific 103, at PPL Shipyard in 2013 and deliveries were originally scheduled in 2015. Perisai has deferred the delivery of the two rigs multiple times.

In June, PPL Shipyard agreed to extend the delivery date for both rigs to August 31 at the latest.

Sembcorp Marine is now actively marketing the rigs, valued at around $400m in total, to prospective buyers who have expressed interest in the rigs.

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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