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.

Singapore’s Sembcorp Marine has opened a state-of-the-art steel structure fabrication workship, which is expected to boost the company’s steel fabrication capacity for future needs.

Sembcorp Marine subsidiary SMOE has bagged a engineering, procurement and construction (EPC) contract worth over $1bn from Maersk Oil North Sea UK.

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.

Sembcorp Marine has entered into an engineering and construction contract worth around $1bn with Heerema Offshore Services (HOS) to build a new DP3 semi-submersible crane vessel.

As the offshore downturn takes its toll Transocean has delayed delivery two drillship newbuildings at Jurong Shipyard by 24 months.

In a challenging market, Lamprell has won a Jack-Up rig order from National Drilling Company (NDC) Abu Dhabi.

Singapore’s Sembcorp Marine (SembMarine) said it is facing a challenging year ahead as the volume of new rig orders has shrunk and charter rates have declined.

Sembcorp Marine’s wholly-owned Sembawang Shipyard has secured a FSO conversion contract worth SGD56m ($41.4m) from Teekay.

Sembcorp Marine’s subsidiaries have secured two offshore energy related contracts valued at a combined SGD222m ($174.3m).