Keppel, Seadrill, Scorpion, Lewek in Talks

Tuesday, December 02, 2008

Keppel Offshore & Marine Limited (Keppel O&M) has received indications from Seadrill Limited, Scorpion Offshore Ltd, and Lewek Shipping Pte Ltd that they are reviewing their options on their newbuilding contracts that were signed in the middle of this year.

The contracts under review are for a semisubmersible for Scorpion Offshore, two jackup rigs for Seadrill and a Multi-Functional Support Vessel for Lewek Shipping. Keppel O&M is in talks with them to arrive at mutually acceptable arrangements for these contracts. Construction work has not started on these projects, for which Keppel O&M has received downpayments.

If these contracts are cancelled, the cancellations are not expected to have any material impact on the net tangible assets or earnings per share of Keppel Corporation for the financial year ending 31 December 2008. Keppel O&M has a strong orderbook of about $12.5b extending through to 2012 and its contracts are cashflow positive.

(www.kepcorp.com)

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

Shipbuilding

World’s 1st LNG Hybrid Barge Christened "Hummel"

The world’s first LNG hybrid barge of Becker Marine Systems was christened with the name "Hummel" on October 18, 2014, at Grasbrook Quay in HafenCity Hamburg.

NSPR Set to Reduce Weld Distortion

Since weld distortion is a very costly problem for U.S. shipyards, the National Shipbuidling Research Program (NSRP) has embarked on a project to reduce weld

KBR, Daewoo win Eni FLNG FEED

KBR Inc. announced today that the KD Consortium, consisting of KBR and Daewoo Shipbuilding & Marine Engineering Company, Ltd, has been awarded a front end engineering

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Repair 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: 0.2278 sec (4 req/sec)