Shanhaiguan Shipbuilding Industry cancels Falcon Energy jackup rig contract

Shanhaiguan Shipbuilding Industry cancels Falcon Energy jackup rig contract

CSIC-affiliated Shanhaiguan Shipbuilding Industry has terminated a contract for one of four jackup drilling rigs ordered by Singapore’s Falcon Energy.

In June, Falcon Energy announced that it has cancelled three out of four rigs on order at Shanhaiguan Shipbuilding and it was in negotiations with the shipyard regarding the last rig, for which construction has already been completed.

The four jackups were ordered by Falcon’s subsidiary FTS Derricks in 2013 for a total of $872m.

An official at Shanhaiguan Shipbuilding confirmed to Splash that it has cancelled the contract for rig, and the shipyard is now making efforts for its resale.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

Related Posts