Marco Polo Marine Ltd

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#32
(26-11-2015, 03:26 PM)thor666 Wrote:
(26-11-2015, 02:36 PM)Ray168 Wrote:
(26-11-2015, 02:14 PM)cfa Wrote:
(26-11-2015, 10:54 AM)desmondxyz Wrote: http://infopub.sgx.com/FileOpen/Update_b...eID=379823

Seems like Marco Polo having some cash flow issue and unable to pay the 2nd payment for the rig. According to sembmar update, the 2nd payment already been deferred twice as requested by Marco Polo......

Based on what  SM presented , MP has a weaker case to cancel the rig order . MP seems doomed .

MP announcement. http://marcopolo.listedcompany.com/newsr...RTYG.1.pdf

Who is right or wrong... yet to be seen.
Based on the reading of the announcement, it does not seem that MP had tried to settle this dispute amicably or reach out of settlement process. My gut feel is that Semb marine has some leverage in this spat. But lose-lose for both (lawyers laughing their way to the bank).

(not vested. Kaypoh vb [emoji14] )

Sent from my D5503 using Tapatalk

UPDATE ON TERMINATION OF THE US$214.3 MILLION RIG CONSTRUCTION CONTRACT WITH PPL SHIPYARD PTE LTD FOR THE CONSTRUCTION OF A HIGHSPECIFICATION JACK-UP RIG 

- Marco Polo Drilling (I) Pte. Ltd. Maintains Its Position That It Is Fully Discharged Of Its Obligations To Take Delivery Or Make Further Payment To PPL Shipyard Pte Ltd In View Of The Latter’s Failure To Comply With Certain Of Its Material Contractual Obligations 

- 70 Cracks Found On All Three Legs Of The New Rig In First Test And More Than 180 New Cracks (Not Including Other Defects) Found In Partial Second Test

http://marcopolo.listedcompany.com/newsr...PKED.1.pdf
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Messages In This Thread
Marco Polo Marine Ltd - by Nick - 04-01-2011, 12:06 AM
RE: Marco Polo - by Musicwhiz - 04-01-2011, 03:20 AM
RE: Marco Polo - by freedom - 04-01-2011, 07:24 AM
RE: Marco Polo - by Share Investor - 27-09-2012, 09:38 PM
RE: Marco Polo - by pianist - 27-09-2012, 11:09 PM
RE: Marco Polo - by ngcheeki - 28-09-2012, 06:11 AM
RE: Marco Polo - by Share Investor - 25-12-2012, 10:26 AM
RE: Marco Polo - by Share Investor - 07-01-2013, 09:31 PM
RE: Marco Polo - by Share Investor - 22-01-2013, 09:17 PM
RE: Marco Polo - by Share Investor - 25-01-2013, 06:10 PM
RE: Marco Polo - by mkmk - 18-10-2013, 09:41 PM
RE: Marco Polo - by pianist - 03-11-2013, 10:32 PM
Marco Polo - by kopitescouser - 28-02-2014, 01:24 AM
RE: Marco Polo - by yawnyawn - 28-02-2014, 04:26 AM
RE: Marco Polo - by Ken123456 - 28-02-2014, 07:35 AM
RE: Marco Polo - by yawnyawn - 28-02-2014, 08:27 AM
RE: Marco Polo - by Ken123456 - 28-02-2014, 09:05 AM
RE: Marco Polo - by yawnyawn - 28-02-2014, 05:43 PM
RE: Marco Polo - by Ken123456 - 28-02-2014, 08:49 PM
RE: Marco Polo Marine Ltd - by GPD - 09-03-2014, 03:29 AM
RE: Marco Polo Marine Ltd - by Ken123456 - 23-03-2014, 01:09 PM
RE: Marco Polo Marine Ltd - by GPD - 23-03-2014, 11:55 PM
RE: Marco Polo Marine Ltd - by arriyana - 06-05-2014, 09:17 PM
RE: Marco Polo Marine Ltd - by GPD - 06-05-2014, 11:04 PM
RE: Marco Polo Marine Ltd - by CityFarmer - 06-01-2015, 04:49 PM
RE: Marco Polo Marine Ltd - by desmondxyz - 26-11-2015, 10:54 AM
RE: Marco Polo Marine Ltd - by cfa - 26-11-2015, 02:14 PM
RE: Marco Polo Marine Ltd - by Ray168 - 26-11-2015, 02:36 PM
RE: Marco Polo Marine Ltd - by thor666 - 26-11-2015, 03:26 PM
RE: Marco Polo Marine Ltd - by Ray168 - 01-12-2015, 04:29 PM
RE: Marco Polo Marine Ltd - by CityFarmer - 26-11-2015, 05:03 PM
RE: Marco Polo Marine Ltd - by GPD - 27-11-2015, 09:00 PM
RE: Marco Polo Marine Ltd - by Ray168 - 02-12-2015, 01:50 PM
RE: Marco Polo Marine Ltd - by Ben - 02-12-2015, 08:15 PM
RE: Marco Polo Marine Ltd - by cfa - 03-12-2015, 09:37 AM
RE: Marco Polo Marine Ltd - by desmondxyz - 03-12-2015, 09:53 AM
RE: Marco Polo Marine Ltd - by brattzz - 30-07-2016, 09:13 AM
RE: Marco Polo Marine Ltd - by 4humanity - 29-07-2016, 11:17 AM
RE: Marco Polo Marine Ltd - by specuvestor - 14-09-2016, 02:03 PM
RE: Marco Polo Marine Ltd - by brattzz - 14-09-2016, 04:04 PM
RE: Marco Polo Marine Ltd - by GPD - 14-09-2016, 04:48 PM
RE: Marco Polo Marine Ltd - by cfa - 15-09-2016, 03:15 PM
RE: Marco Polo Marine Ltd - by CY09 - 22-09-2016, 09:02 PM
RE: Marco Polo Marine Ltd - by Ray168 - 24-09-2016, 08:56 AM
RE: Marco Polo Marine Ltd - by Ray168 - 24-09-2016, 08:59 AM
RE: Marco Polo Marine Ltd - by BlueKelah - 26-09-2016, 10:38 AM
RE: Marco Polo Marine Ltd - by cyclone - 14-10-2016, 06:01 PM
RE: Marco Polo Marine Ltd - by brattzz - 15-10-2016, 10:16 AM
RE: Marco Polo Marine Ltd - by CY09 - 15-04-2017, 09:56 AM
RE: Marco Polo Marine Ltd - by weijian - 02-05-2017, 09:49 PM
RE: Marco Polo Marine Ltd - by weijian - 18-11-2017, 11:27 AM
RE: Marco Polo Marine Ltd - by tomth - 30-11-2017, 12:17 PM
RE: Marco Polo Marine Ltd - by CY09 - 26-01-2018, 12:13 AM
RE: Marco Polo Marine Ltd - by cfa - 26-01-2018, 07:27 AM
RE: Marco Polo Marine Ltd - by CY09 - 26-01-2018, 04:07 PM
RE: Marco Polo Marine Ltd - by cfa - 26-01-2018, 08:13 PM
RE: Marco Polo Marine Ltd - by CY09 - 01-02-2018, 09:35 PM
RE: Marco Polo Marine Ltd - by holymage - 02-02-2018, 07:54 AM
RE: Marco Polo Marine Ltd - by BlueKelah - 03-02-2018, 06:26 PM
RE: Marco Polo Marine Ltd - by CY09 - 02-02-2018, 09:36 AM
RE: Marco Polo Marine Ltd - by weijian - 02-02-2018, 11:55 AM
RE: Marco Polo Marine Ltd - by specuvestor - 03-02-2018, 05:03 PM
RE: Marco Polo Marine Ltd - by specuvestor - 10-02-2018, 03:06 PM
RE: Marco Polo Marine Ltd - by touzi - 04-02-2018, 04:31 PM
RE: Marco Polo Marine Ltd - by cfa - 04-02-2018, 04:58 PM
RE: Marco Polo Marine Ltd - by CY09 - 04-02-2018, 05:09 PM
RE: Marco Polo Marine Ltd - by cfa - 04-02-2018, 05:35 PM
RE: Marco Polo Marine Ltd - by brattzz - 04-02-2018, 06:03 PM
RE: Marco Polo Marine Ltd - by touzi - 05-02-2018, 09:53 AM
RE: Marco Polo Marine Ltd - by Ray168 - 07-02-2018, 08:33 AM
RE: Marco Polo Marine Ltd - by mobo - 07-02-2018, 11:01 AM
RE: Marco Polo Marine Ltd - by corydorus - 07-02-2018, 11:54 AM
RE: Marco Polo Marine Ltd - by specuvestor - 07-02-2018, 03:14 PM
Marco Polo Marine Ltd - by ksir - 07-02-2018, 01:55 PM
RE: Marco Polo Marine Ltd - by opmi - 07-02-2018, 03:40 PM
RE: Marco Polo Marine Ltd - by CY09 - 12-02-2019, 05:02 PM
RE: Marco Polo Marine Ltd - by ZZF - 12-02-2019, 05:10 PM
RE: Marco Polo Marine Ltd - by kikababoo - 14-02-2019, 03:21 PM
RE: Marco Polo Marine Ltd - by CY09 - 12-02-2019, 05:18 PM
RE: Marco Polo Marine Ltd - by TerryT - 13-01-2020, 05:31 PM
RE: Marco Polo Marine Ltd - by Shiyi - 13-01-2020, 05:40 PM
RE: Marco Polo Marine Ltd - by ¯|_(ツ)_/¯ - 15-05-2021, 10:10 AM

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