Sembcorp Marine Acquires A 50 Percent Stake In PPL Shipyard

Wednesday, April 11, 2001
SembCorp Marine has signed a Sale and Purchase Agreement with PPL Holdings Pte Ltd to acquire a 50 percent equity stake comprising 10,000,000 shares of $1.00 each in PPL Shipyard Pte Ltd. (PPLS) for $16 million. PPLS' business is primarily in oil rig and vessel construction as well as steel fabrication. It has recently secured a contract for the construction of two jack-up drilling rigs, each having a value of $125 million, from Sante Fe International Corp., with a construction period of 24 months for each rig. There are also options for four additional jack-up drilling rigs to be built for Sante Fe International Corporation. Last year, PPLS delivered a semi-submersible drilling rig named Cajun Express to U.S. offshore drilling company, Transocean Sedco Forex Inc. Incorporated in Singapore in November 1997, PPLS, which is located on the West Coast of Singapore, has a land area of 141,791 sq. m with a water frontage of 2,296 ft. (700 m) and a water depth of 21 ft. (6.5 m).
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Ferus Smit to Launch Newbuild Bulker

Ferus Smit will launch newbuild bulk carrier Arklow Breeze on Friday, March 20 at Westerbroek.   Arklow Breeze is the sixth and last vessel of a series to be

Damen ASD 2810 Hybrid Tug Delivered to Multraship

Multraship took delivery of a Damen ASD 2810 Hybrid tug vessel, built at Damen Shipyards Galaţi, in Romania. The delivery is part of Multraship’s fleet expansion program,

HHI to Add Massive Heavy Lift Vessel

Hyundai Heavy Industries to add 10,000 ton heavy lift vessel to its offshore facility-building infrastructure legion   Shipbuilder and offshore facilities contractor Hyundai Heavy Industries Co.

Workboats

Damen ASD 2810 Hybrid Tug Delivered to Multraship

Multraship took delivery of a Damen ASD 2810 Hybrid tug vessel, built at Damen Shipyards Galaţi, in Romania. The delivery is part of Multraship’s fleet expansion program,

Keels Laid for Two Aluminum OSVs

Triangle Marine Services and Marine Core & Charter host keel laying ceremony for two Aluminum Fast Offshore Support Vessels   UAE-based shipbuilder Triangle Marine

James Fisher Wind Farm Support Vessel Named

James Fisher Marine Services’s (JFMS) multipurpose wind farm support vessel, Dart Fisher, has been formally named by the vessel’s Godmother Maria McCaffery MBE,

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1076 sec (9 req/sec)