Chuan Hup

Chuan Hup To Buy 20 New Barges & Tugs

Marine shipping company Chuan Hup Holdings expects a new contract to ship coal to Indonesia to contribute significantly to group earnings in 2001, according to a company official. Chuan Hup reportedly has a fleet of about 145 barges, tug boats and other vessels, but would have to add to that to service the new contract. The current estimate calls for about 20 new barges and tug boats.

Chuan Hup Buys Three Ships

Shipping company Chuan Hup Holdings Limited bought three vessels for S$5.8 million in cash, boosting its fleet to 146 ships to cater to growing regional demand for shipping. In October Maritime Week reported that Lim said Chuan Hup signed a contract with Indonesian company PT Adaro to ship coal from Indonesia's Kalimantan to a power station in East Java, and would have to spend some S$40-50 million on 20 new barges and tug boats

Chuan Hup To Buy 20 New Barges & Tugs

Marine shipping company Chuan Hup Holdings expects a contract to ship coal to Indonesia to contribute to group earnings in 2001, the group's finance director, Lim Kwee Siah, said., Lim said the contract was worth an estimated S$300 million in revenue spread over 15 years, or S$20 million a year. "Conservatively, I expect the contract to contribute to group earnings in financial year 2001," Lim said. Talk of the contract had been driving Chuan Hup shares to successive new year highs in

Chuan HUP Subsidiary Sells Entire Stake In Dredging International

Marine transportation services provider, Chuan Hup Holdings Limited (“Chuan Hup” or “Group”), announced that its subsidiary, ACIS Holdings Limited (“ACIS”) has disposed of its entire 10 percent stake in Dredging International Asia Pacific Pte Ltd (“DIAP”) for S$15.2 million. Chuan Hup estimates the net profit before tax attributable to this sale to be S$5.5 million. The cash sale of 6.3 million ordinary DIAP shares, representing 10 percent of the total issued share capital of DIAP

Chuan Hup Unit Secures Patrol Boat Contract

Chuan Hup Holdings Ltd.'s joint venture company Asia-Pac Geraldton Pte Ltd. secured a $11.9 million contract to build seven high-speed patrol boats for the Singapore Police Force (Coast Guard). The company had previously secured a $29.7 million contract to build 18 patrol boats and two command boats for the Singapore police in September 1997, with an option to buy up to another 21 boats. The police force has now exercised its option to buy another seven patrol boats

Industry Leaders Elected To ABS Membership

Sixty-Nine prominent shipping industry executives have been elected as new members of ABS. In addition, Rear Admiral David L. Brewer III, Commander, Military Sealift Command, U.S. Navy, was appointed as a member. This brings the ABS worldwide membership to 803. The members, each eminent in their maritime field of endeavor, provide broad governance and oversight of ABS. Members are drawn from various sectors of the marine, offshore and related industries worldwide. The new members are:

Immarsat FleetBroadband Supports Solo Circumnavigator

Chinese sailor Guo Chuan will attempt to set a new world record by circumnavigating the globe single-handed - with support from Inmarsat Guo's 40-ft yacht will be equipped with a FleetBroadband terminal provided by Inmarsat which will help him send back video and pictures and assist him in plotting a safe course as he attempts to cover 21,600 nautical miles in 130 days. For his latest challenge, Guo, the first Chinese to cross the Atlantic single-handed, in a 21ft (6

Odfjell Orders Six Chem Tankers

Odfjell signed agreements with the Chuan Dong Shipyard to build a series of six plus four optional 9,000 dwt stainless steel chemical tankers for delivery in 2010-2012 at a total price of $180 million. These ships will operate in our regional trades in Asia and Europe, and will replace smaller vessels currently trading in these areas.

Thai Prime Minister Denies Canal Reports

Thai Prime Minister Chuan Leekpai has denied reports that the government plans to build a canal across southern Thailand, bypassing the Malacca Straits shipping lane. He said that while the construction of the canal, estimated at $21.2 billion, is still being studied, it is not a simple issue and requires more research before a decision will be made.

Nautica to Build Two Tugs

Nautica Nova Shipbuilding and Engineering Sdn Bhd has signed a contract to build two tugboats for Multraship Towage & Salvage, a Dutch salvage and towage company. Managing director Chuah Chuan Yong said the company would deliver the first 108.2 ft. tugboat at end-2007. Nautica, which operates on a 13-acre site near Sungai Prai, employs 140 skilled workers, of whom 10% are engineers. (Source: http://biz.thestar.com.my)