Sembawang Kimtrans Close To Securing Contract

Monday, April 10, 2000
Singapore's Sembawang Kimtrans is close to securing a $110 million five-year logistics contract, which will boost its annual turnover by more than 50 percent, managing director Peter Tan said, adding that the potential deal with Australian mining giant Broken Hill Pty Co. Ltd. (BHP) would boost Kimtrans' bottom line by an initial 10 to 15 percent because of heavy start-up investments, and the boost would be more significant further down the line.

In 1999, Kimtrans, which listed on the Singapore Exchange in February, saw net profit surge 177 percent to S$4.01 million on a turnover of S$44.66 million.

Kimtrans had been in talks with BHP for the last six months on the deal to provide logistics services to BHP's three coalmines in Indonesia, Tan said.


Contracts

ACE Winches Bags Order from Vard

Deck machinery specialist ACE Winches said it has been awarded a spooling contract with Vard Group AS for Norway’s largest construction vessel.   The scope of work includes the spooling of two 3,

Fugro, US Army Corps of Engineers Ink Mapping Deal

Fugro has been awarded a photogrammetric and LIDAR surveying and mapping contract by the U.S. Army Corps of Engineers, St. Louis District, Missouri. The agreement

Nakilat Upgrades VSAT Service for LNG/LPG Fleet

Nakilat, the shipping arm of Qatar’s liquefied natural gas sector, has entered into a contract with Global Eagle Entertainment Inc.’s Emerging Markets Communications

Finance

Canada May Ask Far-offshore Drillers to Pay Extra

Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore,

European Owners Lead in Buying Up Secondhand Tonnage

With European owners leading the pack in buying up vessels, the sale and purchase market appears to have been notably active in recent years, reveals Clarkson Research Services Limited.

Monjasa Bags Credit Facility from Société Générale

Danish bunker fuel supplier and shipping firm Monjasa has signed a credit facility with French bank Société Générale for USD 80 million.    A statement from

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion 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: 0.0842 sec (12 req/sec)