Corporate digest

SembMarine, Marco Polo

THE legal dispute between Sembcorp Marine and Marco Polo Marine over a US$21.43 million rig construction contract is proceeding to arbitration. SembMarine said in a Thursday update that its subsidiary PPL Shipyard (PPLS) has on April 7 served a notice to commence arbitration proceedings against Marco Polo's unit Marco Polo Drilling (I) (MPD). This is after "PPLS and MPD referred the dispute to their senior management and to mediation but the dispute between the parties remains unresolved."

SembMarine said that subsequent to PPLS' notice, PPLS has also separately received a notice of arbitration from MPD and Marco Polo "purporting to commence arbitration proceedings against PPLS".