AsiaOffshore

Swiber reveals termination of Vietnam project

Singapore offshore operator Swiber Holdings has revealed the termination of a transport and installation service contract in Vietnam, which it is disputing with the undisclosed customer, while responding to a query from the Singapore Exchange.

The company said the contract value of $21m is immaterial based on its annual revenues, the reason it never made an earlier announcement on the termination, which was received on July 18.

Swiber also denied reports that its vessel which was to be deployed to the Vietnam project, Kaizen 4000, had been detained in China.

 

Latest: Swiber goes into liquidation.

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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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