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Waigaoqiao Shipbuilding enters arbitration with ESSM over jackup delay

China State Shipbuilding Corporation (CSSC) has announced that Shanghai Waigaoqiao Shipbuilding has entered into an arbitration process in London with Singapore owner ESSM over the delivery delay of a jackup rig.

ESSM claimed that Waigaoqiao Shipbuilding was unable to complete the rig within the timeframe stipulated in the shipbuilding contract and requested the shipyard to refund payment and relevant interest of $19.36m in total.

ESSM ordered two jack-up rigs at Waigaoqiao Shipbuilding in July 2013 and the first rig was scheduled for delivery at the end of 2015. In June 2016, ESSM terminated the contract with the shipyard due to the delay in delivery.

CSSC said Waigaoqiao Shipbuilding is currently actively dealing with the arbitration.

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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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