Titan Quanzhou Shipyard gets 11 offshore orders

Titan Quanzhou Shipyard gets 11 offshore orders

Guangzhou: Hong Kong-listed Titan Petrochemicals has announced it has entered into a framework agreement with Singapore-listed Falcon Energy Group (FEG) for the construction of one semi-submersible and two jackup platforms at its subsidiary yard, Titan Quanzhou Shipyard.

Titan Petrochemicals has also signed a memorandum of understanding with its controlling shareholder Guangzhou Zhenrong Energy (GZE), in which GZE has agreed to order two semi-submersibles, four jackups and two FSRUs at Titan Quanzhou Shipyard.

In the meantime, GZE has agreed to provide up to RMB60m ($9.67m) to Titan Quanzhou Shipyard for working capital.

Titan Petrochemicals is currently working on a series of restructuring plans with the support of GZE. Its proposed scheme of arrangement between the company and creditors has been sanctioned by the Supreme Court of Bermuda in November 2014.

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.

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  1. Titan Quanzhou Shipyard gets 11 offshore orders | PETRCHEMICALNEWS.ORG
    May 21, 2015 at 4:12 am

    […] May 21st, 2015 Jason Jiang Greater China, Shipyards 0 comments […]


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