Keppel Corp and Titan Petrochemicals have scrapped a management services agreement (MSA) for a shipyard in China.
The Singapore yard group agreed the deal with the Hong Kong-listed entity to manage the Titan Quanzhou Shipyard in April 2014.
But as a result of the downturn in the offshore and marine business, Titan has held back its investment to reactivate the yard in Fujian province.
