Yangzijiang inks landmark offshore orders

Shanghai: Yangzijiang Shipbuilding Holdings has entered both the jack-up rig and FPSO sectors for the first time. Mena Offshore Investments is paying $170m for a Letourneau Super 116E Class design self-elevating Mobile Offshore jackup rig with delivery scheduled in the second quarter of 2015. The deal comes with an option for one extra. ABS is classing the rig.

Singapore-listed Yangzijiang  also announced yesterday that its offshore subsidiary Jiangsu Yangzijiang Offshore Engineering has signed a Letter of Intent (LOI) with SSP Asia, an Asian affiliate of SSP Offshore Inc, to commence construction of the yard’s first FPSO.

“We identified offshore as a growing market and have worked hard on adding that exposure to our portfolio in years. Our perseverance, dedication and commitment have finally paid off with the successful entering of the first rig building agreement,” said Ren Yuanlin, Executive Chairman, Yangzijiang.  [04/12/12]

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