Honghua seals rigbuilding deal at a low $25m to Kuwait Drilling Company

China’s Honghua Group has signed a contract to build one ultra deepwater drilling rig for Kuwait Drilling Company at a surprisingly low price of $25m. ...

Marco Polo Marine terminates $214.3m rigbuilding contract at Sembmarine

Singapore’s Marco Polo Marine has unilaterally terminated a $214.3m rig order at Sembcorp Marine’s PPL ...

Marco Polo Marine terminates $214.3m rigbuilding contract at Sembmarine

Singapore’s Marco Polo Marine has unilaterally terminated a $214.3m rig order at Sembcorp Marine’s PPL Shipyard, and the rigbuilder has regarded its client’s action as a breach of the contract. ...

Sembmarine profits fall 15% on lower rigbuilding activity

Singapore shipyard group Sembcorp Marine (Sembmarine) reported a 15% decline in net profit to SGD215m ($157.4m) hit by low oil prices and reduced capital expenditure in the oil and gas industry. ...