Sembcorp Marine’s (Sembmarine) PPL Shipyard has terminated contracts for two jack-up rig newbuildings with Perisai Petroleum Teknologi, which the financially strapped Malaysian owner has failed to take delivery of.
Jack-up rig operator and oil and gas services player UMW Oil and Gas Corp (UMW-OG) is expecting that positive sentiment and more optimism in the sector will lead to higher utilisation rates for its drilling rigs beginning next year.
There is an oil spill off the Southern peninsula state of Johor after a tanker and bulker collided last Thursday.
Underscoring an upturn in container shipping global boxport volumes grew 6.7% in the first half of 2017, and forecast at 6% for the year as a whole by Alphaliner.
Bumi Armada has won an additional $134m contract from Lukoil for work in the Caspian Sea.
Malaysian conglomerate Sime Darby is beefing up its capabilities in China, launching a liquid terminal at its Weifang Sime Darby Port, local media reported.