Marco Polo Marine Expands into Offshore Drilling With Latest Order

Pacific class 400 jack-up transocean honor
Transocean Honor, a Pacific Class 400 Jackup, image courtesy Sembcorp Marine

Singapore-based marine logistics group, Marco Polo Marine is expanding their business into the offshore drilling sector with their latest order today with PPL Shipyard for a Pacific Class 400 jack-up rig.

The company’s current involvement in the offshore sector is limited to the chartering of their fleet of anchor handling tugs and one crewboat in the SE Asia region.

According to a statement by PPL Shipyard, a Sembcorp Marine subsidiary, the turnkey contract is worth US$214.3 million and includes an option for two additional rigs.  Delivery is scheduled for Q4 2015.

Mr Wong Teck Cheong, Managing Director of PPL Shipyard, notes this order is the 44th such order for the Pacific Class design placed with their yard since 2004.  35 are currently in operation.