Marine link
 

Keppel Corp

Keppel Corp Wins Deals Worth $80m

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 Unit Wins Contracts Worth $155.6m

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.


Indian Firms Eye Shipbuilding

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.


Keppel Acquires Interest in Verolme Botlek for $17.9 Million

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)


Keppel Earnings Strong

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.


MISC Proposes $973m Deal for Ramunia

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 Hitachi Cuts Workforce

The recently completed sale of Keppel Marine Industries Limited's marine-related businesses to Keppel Hitachi Zosen for about $99.4 million has allowed Keppel to "carry out a reduction of headcount in the three yards that will result in savings of about $2.9 million a year. Following the consolidation of Keppel Shipyard, Hitachi Zosen Singapore and Keppel Singmarine Dockyard, under Keppel Hitachi Zosen, the Keppel Group is rationalizing its operations to remain competitive.


Keppel AmFELS Delivers Second Scorpion Rig

Lady Sponsor Mrs Brenda Harvey (third from left) is accompanied by (from left) Mr CY Ho, Director of Keppel AmFELS, Mr GS Tan, President of Keppel AmFELS, Mr Michael Harvey, Director of Scorpion, Mr Jon Cole, President and CEO of Scorpion, Mrs Cole, Mr CH Tong, Chairman of Keppel AmFELS, Mr Donny Rials, Project Manager of Scorpion, Mr Oscar Lopez, Project Manager of Keppel AmFELS and Mr Gabe Padilla, Vice-President (Engineering) of Scorpion.


Keppel Delivers PV Drilling III Jackup Early

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 Corporation Appoints New Board Director

Keppel Corporation Limited (Keppel) is pleased to announce the appointment of Mr Tan Puay Chiang (陈培璋) as Independent Director on the Board with effect from June 20, 2012. Mr Tan, 65, is a veteran in the oil, gas and petrochemicals sector. During his 38-year career with Mobil Oil and later ExxonMobil, he held executive management roles in Australia, Singapore and the United States. These included the positions of Vice-President, Mobil Research & Technology Corp


U.S. Firm sells Condensate to Mitsubishi

A U.S. energy company has found a second buyer in Japan for its condensate, an ultra-light oil, paving the way for more excess barrels from the United States to head to Asia to meet growing demand. Enterprise Product Partners has signed a short-term contract to sell condensate to Japanese


N-KOM to Build Floating Jetty for QPMC

Photo courtesy of N-KOM

Nakilat-Keppel Offshore & Marine (N-KOM), a joint venture shipyard established by Nakilat and Singapore’s Keppel Offshore & Marine (Keppel O&M), has secured a contract worth $19 million (69 million Qatari Riyals) to design and construct a floating jetty for Qatar Primary


Ocean Mineral Singapore Set for Seabed Exploration

Ong Ye Kung, director of Ocean Mineral Singapore

Ocean Mineral Singapore Pte. Ltd. (OMS) has received approval from the International Seabed Authority (ISA) on its application for its first seabed exploration licence. Over the next few months, OMS will work with ISA to finalise the terms of contract for the award of the licence


GDI Awards N-KOM US$110-M Contracts

GDI N-KOM contract principals: Photo courtesy of N-KOM

Gulf Drilling International (GDI) Limited, a subsidiary of Gulf International Services (GIS), the largest oilfield service company in Qatar, has awarded two contracts worth US110 million to Nakilat-Keppel Offshore & Marine (N-KOM), a joint venture shipyard between Nakilat and Singapore’s


Keppel Q1 Profits Dip Slightly

Maersk Intrepid was delivered by Keppel in Q1 2014 (Photo courtesy Maersk)

The Keppel Corporation released its limited unaudited results for the first quarter ending March31, 2014, reporting a 5% decrease in net profits to S$339 million compared to Q1 2013's S$357 million, though the company attributed the decline to one-off gains from the reversal of provision from the


Caspian Sea Shipyard Wins BP Exploration SCV Contract

File photo

Keppel supported Baku Shipyard has won a first major contract from BP Exploration (Shah Deniz) Ltd, the operator of the Shah Deniz gas field development, to design and build a Subsea Construction Vessel (SCV). The contract is worth US$378-million, say the shipyard.


Keppel, Seafox Partner to Build Jackups

workfox.gif

The accommodation jackup rig with Plug & Abandonment (P&A) features will be based on Keppel’s KFELS J Class design which is suited for the harsh environment of the Norwegian North Sea.   Keppel FELS Limited (Keppel FELS)


Northrop Grumman Awarded US$88-Million Navy Contract

Integrated bridge: File image

According to the US Department of Defense, Navy, Northrop Grumman Systems Corp., Charlottesville, Va., is being awarded an $88,153,800 contract to acquire integrated bridge systems and steering/ship control systems, related hardware and associated services.


Electric Boat Awarded Submarine Repair Contract Modification

Image credit GDEBC

US Department of Defense informs that a $9,048,214 cost-plus-fixed-fee modification to the previously awarded contract (N00024-13-C-4308) has been awarded to General Dynamics Electric Boat Corp., Groton, Connecticut. The contract is to incrementally fund previously exercised options to provide


Keppel's Senior Executive Director to Retire

Keppel Corporation Limited announced that Teo Soon Hoe, Senior Executive Director, Keppel Corporation will retire June 1, 2014. Teo will step down as Chairman of Keppel Telecommunications & Transportation Ltd (Keppel T&T) and non-independent director of Keppel Infrastructure Fund


China State Shipbuilding, CNPC Among 11 Caught in Auditor Snare

China's National Audit Office has found irregularities at 11 state-owned conglomerates ranging from misrepresentation of assets to illegal property development, highlighting the challenges the government faces in overhauling the public sector.


Keppel to Build Two Supply Vessels for Lukoil

Construction of two supply vessels to the Russian Maritime Register of Shipping (RS) class, commissioned by the company Lukoil is starting in China. A steel cutting ceremony was held at the Keppel Nantong Shipyard Co. Ltd in Nantong on June 18, 2014.


Fairmount Tows Jack-up Rig to Singapore

Tug Fairmount Summit towed jack-up rig West Ariel from Vietnam, to Singapore (Photo courtesy of Fairmount)

Tug Fairmount Summit has towed jack-up rig West Ariel safely from Vung Tau, Vietnam, to Singapore. The towage over a distance of 1,305 miles was performed in seven days with an average speed of 4 knots. The West Ariel, a KFels B class independent leg cantilever jack-up rig


Keppel FLNG MOSS Vessel Conversion Contract Activated

An FPSO: File photo

Keppel Shipyard says that the contract it entered into earlier with Golar Hilli Corporation to perform the world's first-of-its-type conversion of an existing Moss LNG carrier, the Hilli, into a Floating Liquefaction Vessel (FLNGV), has become effective


Zim Line Debt Restructuring Plan to Proceed

Zim container ship in terminal: Photo Zim Line

Israel's Finance Ministry and Israel Corp have reached a compromise regarding the government's "golden share" in the country's biggest shipping company Zim, paving the way for a $3 billion debt restructuring plan to move ahead. The government last week appealed an Israeli court ruling






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright