Keppel Secures $139m Contracts

Monday, December 29, 2008
Keppel Singmarine delivered the first vessel, Seaways 12, to Seaways in November last year, safely and ahead of schedule.

Keppel Offshore & Marine Limited (Keppel O&M) through its wholly owned subsidiaries has clinched contracts worth $139m.

The new orders include the upgrading and conversion of a Floating, Storage and Offloading (FSO) vessel into a Floating Production, Storage and Offloading facility (FPSO Okha) by Keppel Shipyard for Single Buoy Moorings, the building of two RAmpage 5500 Z-M offshore support tugs by Keppel Singmarine for Seaways International Pte Ltd and the construction of three tugboats at Keppel Cebu Shipyard in the Philippines.

Work on the FPSO Okha is expected to commence in the first quarter of 2009 and will be completed in the fourth quarter of 2010. The facility is being developed for the Cossack Wanaea Lambert Hermes oil field 135 km northwest of Karratha in Western Australia.

The two DP2 multi tasking Anchor Handling Tugs (AHT), each with 100-tonne bollard pull, are due for completion in the first half of 2011 and will be deployed in West Africa, Asia or the Middle East. This is a repeat order from Seaways. Keppel Singmarine is currently building a similar AHT for the same owner for delivery in end 2009.

The construction of the three tugboats - two for repeat customer Keppel Smit Towage Pte Ltd and one for the Port of Salalah of Oman – signifies the further development of Keppel Cebu Shipyard as a specialised shipbuilding yard.

Mr Tong Chong Heong, currently Managing Director & Chief Operating Officer of Keppel O&M and Chief Executive Officer designate, said, “The new orders are a creditable wrap-up for a year in which the second half has been ravaged by very negative financial and economic factors.

“The fundamentals of the industry remain sound even though the pipeline of projects has slowed down. There are still projects in the market but we would only take on those that are cashflow positive. This prudent approach protects our shareholders’ interest as well as sustains us during this highly volatile period.”

Commenting on Keppel O&M’s plans for 2009, Mr Tong said, “Our focus in the new year is to further strengthen our business fundamentals through excellent project execution, robust risk and governance management and pro-active technology development.

“Our strong balance sheet and healthy orderbook in excess of S$10 billion give us the muscles to pursue our strategic goals of nurturing our people and seizing opportunities to develop new markets and technologies.”

Keppel O&M, a wholly owned subsidiary of Keppel Corporation is a leader in offshore rigs, ship repair and conversion and specialised shipbuilding. Keppel O&M’s near market, near customer strategy is bolstered by a global network of 20 yards in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions. Integrating the experience and expertise of its yards worldwide, the group aims to be the provider of choice and partner in solutions for the offshore and marine industry.

The contracts are not expected to have material impact on the net tangible assets and earnings per share of Keppel Corporation for the financial years 2008 and 2009.

(www.kepcorp.com)

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Ecuador Coastguard Orders Damen Patrol Boats

Damen announced it has recently signed a contract with AstillerosNavalesEcuatorianos (Astinave) to construct two Damen Stan Patrols (Spa) 5009 for the Ecuadorian Coastguard.

LNG America Selects Topside Designer for LNG Bunker Barge

LNG America has selected Taylor-Wharton to commence the front-end engineering and design work for the cryogenic topside of the company’s 3,000 cubic meter Gemini

Lithuania Inks First Statoil LNG Deal

Lithuania seeks to cut dependence on Russia; Statoil to supply 0.54 bcm of gas per year. This will cover about 20 pct of Lithuania's demand. Lithuania signed

Shipbuilding

Ecuador Coastguard Orders Damen Patrol Boats

Damen announced it has recently signed a contract with AstillerosNavalesEcuatorianos (Astinave) to construct two Damen Stan Patrols (Spa) 5009 for the Ecuadorian Coastguard.

LNG America Selects Topside Designer for LNG Bunker Barge

LNG America has selected Taylor-Wharton to commence the front-end engineering and design work for the cryogenic topside of the company’s 3,000 cubic meter Gemini

MN 100: Brunswick Commercial and Government Products

420 Megan Z. Ave Edgewater, FL 32132 Telephone: 386 423 2934 E-mail: kelsey.nemeth@whaler.com Website: www.brunswickcgp.com CEO/President: Huw Bower Number

 
 
Maritime Standards Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics 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: 0.1603 sec (6 req/sec)