SembCorp Gets BP Shipping Deal

Wednesday, May 31, 2000

Singapore's Sembawang Shipyard Pte Ltd., a subsidiary of SembCorp Marine, has entered an agreement to repair the Far East fleet of BP Shipping Ltd. for an indeterminate amount of time.

Sembawang Shipyard managing director Heng Chiang Gnee said the company expects to refit and drydock about 12 of BP Shipping's fleet of 30 in a typical year. He said he expected a typical contract value of about $1.2 to $1.7 million to repair each of the vessels.

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People & Company News

Crowley's 'Alert' Tugboat Commended for Alaska Rescue Tow

Representative Eric Feige from the Alaska State Legislature presents a letter of commendation to the 'Alert's crew for their rescue tow of drill barge 'Kulluk'.

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Finance

STX Shipbuilding Shares on a Roll

South Korean shares rebounded Tuesday from the prior session's fall as local institutions rushed to hunt for bargains on views that the recent decline was excessive.

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Boatbuilding Booms as More Americans Take to the Water:

New data from The National Marine Manufacturers Association (NMMA) show 88 million Americans expected to take to U.S. waterways this summer. NMMA add that recreational boating in the U.