It has been reported that Keppel Corp has won two contracts worth a total of $80m. The contracts are for the conversion of a tanker to a floating production storage offloading or FPSO facility and the repair of another FPSO vessel. The tanker conversion is the eighth such job that Keppel is executing for Single Buoy Moorings in six years. It is expected to be completed in the third quarter of next year. The deal to repair the FPSO vessel was awarded by Petro-Canada (East Coast). The tanker conversion will be carried out by Keppel Shipyard while the FPSO repair will be handled by sister company Keppel Verolme in Rotterdam. - CNA/ch Source: Channel NewsAsia
Keppel Corp. said Keppel Singmarine Pte Ltd. has won two shipbuilding contracts worth $155.6m, Thompson Financial reported. Keppel Singmarine will build a derrick pipelay vessel for Global Offshore International Ltd, a unit of U.S.-listed Global Industries Ltd. In a separate deal, Keppel Singmarine will construct a 100-metre Rolls-Royce designed UT 788 CDL ultra-deepwater multi-functional support vessel For Lewek Shipping Pte Ltd., a unit of Singapore-listed Ezra Holdings Ltd.
Through its offshore rig-building division Keppel FELS Ltd., Keppel Corp. signed a preliminary contract with Verolme Botlek b.v. to attain an 85 percent interest in the Dutch offshore repair and conversion shipyard for $17.9 million. The remaining interest will be held by the management (10 percent), and workers' foundation (five percent). The acquisition of the shipyard, which is expected to be completed in the next few months (subject to due diligence and definitive agreements)
MISChas proposed a $973m deal to merge its shipbuilding business with Ramunia Holdings, an oil services company. The merger would expand MISC’s plans to create a regional business building oil rigs to compete against neighbouring Singapore, which is the world’s largest producer of offshore energy platforms. The deal would be a reverse takeover that could allow MISC to list its Malaysia Marine and Heavy Engineering unit under the Ramunia name in hopes of copying the success of Keppel Corp
Keppel Corp's full-year profit up 2 pct at S$1.9 bln. Singapore's Keppel Corp Ltd said fourth-quarter net profit rose 6.1 percent to S$725.9 million ($544.8 million), while its full-year profit rose 2 percent and beat analysts' consensus. Keppel on Thursday posted a full-year profit of S$1.9 billion, beating the S$1.6 billion average estimate of 22 analysts polled by Thomson Reuters. The fourth-quarter profit was boosted by a 2
Keppel Corp Ltd has entered into an agreement with Royal Dutch Shell to form a joint venture company, which will establish a liquefied natural gas (LNG) bunkering business in Singapore, says a report in Reuters. The two companies will have a 50 percent stake each in the joint venture. Its principal business activity will be to supply LNG bunkering operations services in Singapore to ships and any other marine vessels in the Singapore port and other related services
Indian firms are increasingly getting into ship building and repairing as shipbuilding orders are expected to rise significantly to meet the boom in seaborne trade and increased offshore oil exploration. The local industry is expected to expand to $20b by 2020 from close to $5b now, a report by maritime consultants i-maritime Consultancy Pvt Ltd said, which is about 1 percent by value of total global shipbuilding orders.
Singapore conglomerate Keppel Corporation (KepCorp) and its units will report record profits over the next week, but a lack of progress on the restructuring front will stifle a return of investor interest, analysts say. Funds have neglected KepCorp, once considered a proxy for Singapore because of its interests ranged from telecoms and ship-repair to banking and property, and its shares are now drifting near the bottom of their historical trading range.
Keppel FELS Limited (Keppel FELS) has been awarded a bonus of $460,000 for delivering the KFELS B Class jackup rig, PV Drilling III, early to PetroVietnam Drilling & Well Services Corp (PV Drilling). Completed 1.5 months ahead of schedule, without incidents, PV Drilling III has departed Keppel FELS for Vietnam to begin a five-year contract with Vietsovpetro in the Bach Ho field, offshore Vietnam. PV Drilling III completes the series of three KFELS B Class jackup rigs ordered by PV
Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) is on track to deliver PV Drilling VI, a KFELS B Class jackup rig, to PV Drilling Overseas (PVDO), a subsidiary of PetroVietnam Drilling & Well Services Corp (PV Drilling) on time, on budget and with a perfect safety record. It is the 100th jackup rig Keppel FELS has built since 1970, of which more than half are based on the KFELS B Class design
Keppel Offshore & Marine (Keppel O&M) announced it has secured contracts to build its first two dual-fuel diesel liquefied natural gas (LNG) harbor tugs, and signed a Memorandum of Understanding (MOU) with Keppel-Royal Dutch Shell plc (Shell) to jointly explore opportunities in using LNG
Keppel Offshore & Marine's (Keppel O&M) wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) is on track to deliver a Floating Production Storage and Offloading (FPSO) vessel to Armada Madura EPC Limited (Armada Madura), a joint venture between Shapoorji Pallonji Group (Shapoorji
Singapore's Sembcorp Marine Ltd swung to a loss in the third quarter and the rig builder's revenue was hurt by customers deferring rig deliveries amid a protracted downturn in the oil and natural gas market. The company posted a net loss of S$21.8 million ($15
SEA\LNG, which works to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, has welcomed two new partners, each representing key aspects of the LNG maritime value chain: ABS and Keppel Offshore & Marine’s Gas Technology Development.
Keppel Offshore & Marine (Keppel O&M), through its wholly owned subsidiary, Keppel Offshore & Marine USA, Inc., has completed the acquisition of Cameron International Corporation's offshore product division, which comprises the LETOURNEAU jackup rig designs, rig kit business
Investment management firm EIG Management Co added Brazil's engineering conglomerate Odebrecht SA and a few other shipyards in its $221 million fraud suit against Petroleo Brasileiro SA. EIG, in a filing on Wednesday, alleged that Odebrecht SA and other shipyards along with Petrobras misled the
Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) has secured four contracts worth a total of about S$120 million from repeat customers. Mr Michael Chia, Managing Director (Marine & Technology) of Keppel O&M, said
Keppel Corp Ltd said it entered into an agreement with Royal Dutch Shell to form a joint venture company, which will establish a liquefied natural gas (LNG) bunkering business in Singapore. The two companies will have a 50 percent stake each in the joint venture
Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Singmarine Pte Ltd (Keppel Singmarine) has secured contracts from Jan De Nul Group to build three Trailing Suction Hopper Dredgers (TSHDs). The TSHDs are worth about S$100 million in total.
Nakilat-Keppel Offshore Marine (N-KOM) has signed a fleet agreement with Samos Steamship Company, under which N-KOM will be the preferred shipyard in the Middle East for the repairs of all vessels owned by Samos Steamship Company. The Greek shipping company is an existing client of N-KOM
The National Parks Board (NParks) and Keppel Corporation today unveiled plans for a partnership to restore the freshwater forest wetland ecosystem historically found in the vicinity of the Singapore Botanic Gardens. Located in the upcoming Learning Forest extension, the restored 1
Keppel Offshore & Marine (Keppel O&M)'s wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) is on track to deliver a Floating Production Storage and Offloading (FPSO) vessel to Armada Kraken Pte Ltd (Armada Kraken), a wholly owned subsidiary of Bumi Armada Berhad (Bumi Armada)
Pavilion Energy Pte Ltd (Pavilion) and Exxon Mobil Corp. (ExxonMobil) will work together to develop liquefied natural gas (LNG) bunkering in Singapore, as well as other downstream projects, reports the Straits Times. Both companies will also look at developing other downstream
Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered Floatel Triumph, a fifth high-specification accommodation semisubmersible (semi), to Floatel International Ltd (Floatel). The semi, which is built to Keppel's proprietary SSAUTM5000NG design
Royal Boskalis Westminster (Boskalis) joint ventures Keppel Smit Towage and Maju Maritime have ordered two innovative LNG dual-fuel harbor tugs, which marks a breakthrough for realizing clean environmentally friendly harbor towage services in the Singapore port