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.


Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Azerbaijan to Get New Passenger Vessel This Year-end

Azerbaijan Caspian Shipping Company  expects to get the first of the three passenger vessels being built currently at the Baku Shipbuilding & Repair Plant (Baku Shipyard LLC) until the end of 2015,

Michelle Obama to Christen Navy's Newest Submarine

U.S. First Lady Michelle Obama will join builder General Dynamics Electric Boat, a wholly owned subsidiary of General Dynamics, in christening Illinois (SSN-786), the U.

Incat Ferry Order from Denmark

Incat Tasmania Pty Ltd, Australian shipbuilder, has secured a contract for the construction, delivery and long term charter of a large fast vehicle ferry for Danish company Mols-Linien A/S.

Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | 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: 0.1086 sec (9 req/sec)