FEG and GZE Places Eleven Offshore Orders with Titan Quanzhou Shipyard

Friday / May 22, 2015

s00Titan Quanzhou Shipyard, an indirect wholly-owned subsidiary of the Hong-Kong listed Titan Petrochemicals Group, has bagged 11 offshore orders from Singapore’s Falcon Energy Group (FEG) and China’s Guangdong Zhenrong Energy (GZE).

The Shipyard is scheduled to build one semi-submersible and two jack-up rigs for FTS Derricks, a subsidiary of FEG and two semi-submersibles, four jack-up rigs and two FSRUs for GZE, which is the controlling shareholder of Titan Petrochemicals.

It is reported that GZE has agreed to loan at least RMB60m to Titan Quanzhou Shipyard for working capital.

SNM Events News Service
Contact Editor: editor@snmevents.com

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