China's ZPMC Challenges Petrofac Over Termination of Vessel Building Deal
China's Shanghai Zhenhua Heavy Industries Co., Ltd. (ZPMC) indicated that it will defend its legal rights pertaining to the recent cancellation of a deepwater multipurpose offshore vessel by Petrofac Ltd., according to an announcement which the company made available to Rigzone Friday.
"ZPMC announced through Shanghai Stock Exchange that it was regrettable that Petrofac unilaterally terminated the contract of Petrofac JSD 6000 deepwater multi-purpose offshore vessel. ZPMC will actively take all legal measures to defend its legitimate rights and interests, and will pursue the liability borne by Petrofac," the firm said.
Petrofac cancelled the contract -- enterted into in January 2014 -- with the Chinese shipyard Oct. 9, citing issues with ZPMC over the latter's performance in the construction of the vessel, which would integrates the J-Lay, S-Lay and derrick functions.
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