Sembcorp Marine Acquires A 50 Percent Stake In PPL Shipyard

Wednesday, April 11, 2001
SembCorp Marine has signed a Sale and Purchase Agreement with PPL Holdings Pte Ltd to acquire a 50 percent equity stake comprising 10,000,000 shares of $1.00 each in PPL Shipyard Pte Ltd. (PPLS) for $16 million. PPLS' business is primarily in oil rig and vessel construction as well as steel fabrication. It has recently secured a contract for the construction of two jack-up drilling rigs, each having a value of $125 million, from Sante Fe International Corp., with a construction period of 24 months for each rig. There are also options for four additional jack-up drilling rigs to be built for Sante Fe International Corporation. Last year, PPLS delivered a semi-submersible drilling rig named Cajun Express to U.S. offshore drilling company, Transocean Sedco Forex Inc. Incorporated in Singapore in November 1997, PPLS, which is located on the West Coast of Singapore, has a land area of 141,791 sq. m with a water frontage of 2,296 ft. (700 m) and a water depth of 21 ft. (6.5 m).
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

GTT Wins DSME Order for 9 More Icebreaking LNGCs

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of Liquefied Natural Gas (LNG), announced

Volvo Penta Diesel Sterndrives for Metal Shark Patrol Boats

Metal Shark now offers Volvo Penta diesel sterndrives in its 29 Defiant patrol boats for customers requiring optimum performance, durability and maneuverability.

More VDR Orders for Danelec in China

Danelec Marine has received orders to supply Voyage Data Recorders (VDRs) and Electronic Chart Display and Information Systems (ECDIS) for 18 offshore support vessels in China.

Workboats

Concordia Tow Update: Smooth Sailing

The Costa Concordia wreck removal team reported this morning at 10:30 a.m. that after 22 hours of navigation, the convoy was over 50 miles off Giglio Island with about 140 miles from Genoa Prà-Voltri.

MTU Powers Fleet of Inland Waterway Towboats

Industry-leading Ironmen diesel engines power four new builds and two repowers in Southern Towing’s inland waterway fleet MTU, the specialist for propulsion

New Crewboat Design for Offshore O&G Market

Upgraded crewboat design employs carbon-reinforced composite materials and is lighter, faster and more fuel-efficient than alternatives. Marine Oil Transportation

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Pod Propulsion Port Authority Salvage 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: 0.1036 sec (10 req/sec)