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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 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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