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Titan Quanzhou Shipyard bags 11 offshore ordersTitan Quanzhou Shipyard bags 11 offshore orders

Titan Quanzhou Shipyard has bagged 11 offshore orders from Singapore’s Falcon Energy Group (FEG) and China’s Guangdong Zhenrong Energy (GZE).

Lee Hong Liang, Asia Correspondent

May 21, 2015

1 Min Read
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Titan Quanzhou Shipyard, an indirect wholly-owned subsidiary of Titan Petrochemicals Group, will build one semi-submersible and two jack-up rigs for FTS Derricks, subsidiary of FEG.

Separately, the yard will also construct two semi-submersibles, four jack-up rigs and two FSRUs for GZE, which is the controlling shareholder of Titan Petrochemicals.

Financial details of both the deals were not disclosed.

In conjunction with the orders, Titan Petrochemicals said GZE has agreed to a loan of at least RMB60m to Titan Quanzhou Shipyard for working capital.

Hong Kong-listed Titan Petrochemicals, whose shares continued to be suspended from trading, is itself going through a debt restructuring.

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About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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