SINGAPORE - Sembcorp Marine, the world's second-biggest offshore rig-maker, said it has settled disputes with bondholders of Norsk Tillitsman and PetroRig 1, the special purpose vehicle of Norwary's PetroMENA.

The settlement would allow its unit, Jurong Shipyard, to be paid the balance of the construction costs and expenses for a rig it had made for PetroRig 1, the company said on Friday.