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ZPMC defends shipbuilding contract termination by Petrofac

ZPMC defends shipbuilding contract termination by Petrofac
Shanghai Zhenhua Heavy Industries (ZPMC) is taking steps to defend against the recent termination of a contract by Petrofac over the construction of a multi-purpose offshore vessel.

In a statement, ZPMC said it “deeply regrets the unilateral termination of the contract” and will “actively take all legal measures to protect our legal rights, and to claim against the other party for any relevant responsibilities.”

Oil and gas firm Petrofac on 9 October terminated the contract with ZPMC, claiming that it has issues with ZPMC's performance relating to the newbuilding based on the proprietary design Petrofac JSD6000.

The shipbuilding contract was signed in January 2014 with delivery due in 2017.