ZPMC to take legal action against Petrofac over $1bn contract termination

ZPMC to take legal action against Petrofac over $1bn contract termination

China’s Shanghai Zhenhua Heavy Industries (ZPMC) has announced that it will take legal measures against Petrofac following the $1bn cancellation of a construction contract to build the JSD 6000 deepwater multi-purpose offshore vessel.

ZPMC said it was regrettable that Petrofec has terminated the contract and it will actively take legal actions to protect its legitimate rights and interests.

Petrofac awarded the contract to ZPMC to build the vessel in January 2014, with a scheduled delivery in early 2017.

Petrofac said the cancellation was due to issues with ZPMC’s performance.

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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