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.
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
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
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 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
Chinese sailor Guo Chuan intends to make it world’s quickest Northern Sea Route trip from Murmansk to the Bering Strait in 14 days without engine power. His trimaran “Qingdao China" is docked in Jarfjord outside Kirkenes, Norway, as the last preparations for the Arctic voyage are handled. With support from local company Arctic Dive Resort, the expedition stays in Norwegian-Russian border area before it on Saturday heads towards Murmansk
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:
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
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 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)
The 'Big Three'—Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries and Samsung Heavy Industries—hold $42.1 billion in loans between them. The firms closed out 2015 with combined losses of more than $6 billion, their earnings reports revealed.
The Maritime and Port Authority of Singapore (MPA) and the Singapore Shipping Association has co-organised the inaugural Cyber Security Seminar in conjunction with the Singapore Maritime Week 2016. Teo Chin Hock, Senior Advisor, Cyber Security Agency of Singapore (CSA)
Evergreen Marine Corporation said that Chang Kuo-wei, the late founder's son, was no longer on its board of directors, reports local media. Chang's seat on its board of directors will be filled by Hsieh Huey-chuan. According to observers
Wang Jing, the enigmatic businessman behind Nicaragua's $50 billion Interoceanic Grand Canal, shrugs off scepticism about how a little-known entrepreneur can be driving a huge transcontinental project, insisting he's not an agent of the Beijing government.
Simutech Solution Corp. uses realistic simulation to craft a better boat While it’s widely recognized that HTC smartphones, Garmin GPS devices and a sweeping array of big-brand laptops are staples of the Made in Taiwan effort, it’s a lesser-known fact that luxury yachts (those
ABS, a provider of maritime classification services, launched Chem-eL, a specialized training package designed to support safety and competence in chemical tanker operations. Chem-eL is a sector-specific e-learning marine product developed in accordance with the requirements stated in the
SATS announced it has through its subsidiaries, SATS Airport Services and SATS-Creuers Cruise Services (SATS-Creuers), entered into a share purchase agreement to acquire the entire issued share capital of Singapore Cruise Center for S$110 million from Temasek.
Chinese single-handed sailor Guo Chuan starts 2013 tackling strong winds & towering waves of the Southern Ocean’s Roaring Forties. The Chinese yachtsman is attempting to set a new world record for solo non-stop circumnavigation of the globe
Sentinel sell new-build Anchor Handling Towing & Supply vessels AHTS 5150; order two more AHTS from Nam Cheong Dockyard. Buyers of the AHTS 5150, Hull SK 67, have requested the details of the sale to remain private.
Lloyd's Register to set up a a world-class Group Technology Center (GTC) in Singapore in collaboration with the Agency for Science, Technology & Research (A*STAR) To maximise the output of the GTC, LR and A*STAR are focusing on four research themes they believe are critical to their
A solo, non-stop circumnavigation of the globe, is sponsored by China Ocean Shipping Corporation (COSCO) A Chinese sailor is planning a solo, non-stop circumnavigation of the globe in November, attempting to make the journey in a world-record time for a 40-foot sail boat.
International Bunkering based in Dubai, UAE is pleased to announce the promotion of Mr. Felix Teo Yu Chuan to Senior Bunker Trader as from 1st of May 2011. At International Bunkering we acknowledge the value of each of our employees and their contribution to our results.
Bahamian shipowners Campbell Shipping Ltd. signed an order with Zhong Chuan Heavy Industry Shipbuilding Co. Ltd. of Zhoushan for two 32,000 dwt double-hull bulk carriers, with an option for two more. These ships, which will be classed by ABS and fly the Bahamas flag
Following a well-established relation, the Guangzhou Panyu Lingshan Shipyard has recently delivered another anchor handling tug designed by Singapores Khiam Chuan Marine. With a 131 ft length overall and a length at the waterline of 124 ft, the M/V Putra Jaya Singosari is registered in Kota
Joining a long list of successful craft from this well-established south China shipyard, the 40-meter Putrajaya Singosari completed sea trials in mid-November of this year. With an 11.8-meter beam and 4.6-meter molded depth, the offshore utility support vessel was built to a design by Khiam Chuan