Keppel Shipyard Secures S$142 Million Contracts

Friday, September 30, 2011

Keppel Shipyard Ltd (Keppel Shipyard) has secured three conversion contracts worth a total of S$142 million. These conversion contracts are to convert a Liquefied Natural Gas (LNG) Carrier to a Floating Storage Unit (FSU), a VLCC tanker to a Floating Storage and Offloading (FSO) unit as well as a tanker to a Floating Production Storage and Offloading (FPSO) unit.

 

Mr Nelson Yeo, Managing Director of Keppel Shipyard, said, "We are glad to have the trust and confidence of the global industry for a range of conversion projects. Working closely with our customers, we will continue to enhance and extend our capabilities, and ensure safe and high quality deliveries." The first contract is for the fast-track conversion of the LNG carrier Tenaga Empat into a FSU for Malaysian customer MISC Berhad. When completed in 2Q 2012, the FSU will have a storage capacity of 130,000m3 and operate in the newly-developed Melaka LNG Import Terminal.

 

The second contract is from Dixstone Holdings Ltd, an affiliate of the Perenco Group (Perenco), which is in turn a partner of the Cameroon National Hydrocarbons Corporation (SNH), for the modification and upgrading of the FSO Massongo. Work is expected to commence at the end of this year. The scope of work includes refurbishment and life extension works; fabrication and installation of the cargo offloading balcony and helideck; installation and integration of a 14-point spread mooring system and the upgrading of the accommodation facilities. The available storage capacity of the vessel will be two million barrels of oil, with four wing ballasts tanks to be converted into cargo tanks. When completed in 3Q 2012, FSO Massongo will replace both FSO Kingsway (Rio Del Rey Basin) and FSO Moudi at Moudi field located 20 miles apart.

 

Keppel Shipyard's third contract is for the conversion of the tanker Umbe into a FPSO unit for Bumi Armada Berhad (Bumi Armada). Keppel Shipyard has been entrusted with all of Bumi Armada's conversion projects to date; this latest FPSO contract is the seventh collaboration on major projects between the two companies. Slated for completion in 4Q 2012, the FPSO will have a production capacity of 50,000 barrels of oil per day (bopd), and a storage capacity of 580,000 barrels of oil. The FPSO has been chartered by Oil and Natural Gas Corporation Limited (ONGC) for deployment in the D-1 field, which is located 200 kilometers west of Mumbai, India.The above contracts are not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corporation Limited for the current financial year.

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

People & Company News

Nordic American Offshore Declares Dividend

Nordic American Offshore Ltd. today announced that its board of directors has declared a dividend of $0.45 per common share for the third quarter 2014. This is the same as for the second quarter 2014.

Bollore Africa Logistics Sees Profit Plunge in H1

First half 2014 profit at shipping company Bollore Africa Logistics plunged to 5.89 billion CFA francs ($11.48 million) from 9.45 billion CFA francs in the same period last year,

Ocean Rig, Petrobras Agree to $1.1b Drill Ships Lease

Cyprus-based Ocean Rig UDW Inc said on Monday that it signed a $1.1 billion three-year contract with Brazil's state-run oil company, Petroleo Brasileiro SA, to

Contracts

Ocean Rig, Petrobras Agree to $1.1b Drill Ships Lease

Cyprus-based Ocean Rig UDW Inc said on Monday that it signed a $1.1 billion three-year contract with Brazil's state-run oil company, Petroleo Brasileiro SA, to

Rolls-Royce to Design, Equip Stern Trawler for Ramoen

The Armon shipyard in Gijón, Spain has entered into a contract to build a new Stern Trawler for the Norwegian fishing company Ramoen. The vessel will be a Rolls-Royce design,

India to Develop Iran's Chabahar Port

India will float a company to develop Iran's Chabahar Port, a government statement said on Saturday, as New Delhi aims to take advantage of a thaw in Tehran's relations with world powers.

Shipbuilding

New Standard for LNG Cargo Containment Systems

Wilhelmsen Technical Solutions (WTS) said it has successfully completing the gas trial for the first LNG carrier built to a Boil Off Rate (BOR) of 0.08% per day.

Messer to Debut MetalMaster Xcel

Messer Cutting Systems said it has answered the call from manufacturers that have been demanding a faster, more accurate way of producing cut parts. Messer’s

Rolls-Royce Expands in the Canary Islands

Rolls-Royce announced it has signed a cooperation agreement with the Astican Shipyard in Las Palmas, Canary Islands that it said will enhance the service capabilities

Finance

Nordic American Offshore Declares Dividend

Nordic American Offshore Ltd. today announced that its board of directors has declared a dividend of $0.45 per common share for the third quarter 2014. This is the same as for the second quarter 2014.

Bollore Africa Logistics Sees Profit Plunge in H1

First half 2014 profit at shipping company Bollore Africa Logistics plunged to 5.89 billion CFA francs ($11.48 million) from 9.45 billion CFA francs in the same period last year,

Maduro Says Venezuela's 2015 Budget to Put Oil at $60

Venezuela's 2015 budget will be based on a target oil price of $60 dollars per barrel, President Nicolas Maduro said on Friday night, but he repeated expectations that prices will recover.

Energy

Corvus Gains Support from WINN Initiative

Corvus Energy announced today the award of $1.3 million in repayable assistance from the Western Innovation (WINN) Initiative for its project to further develop the Corvus Energy Storage System.

Ocean Rig, Petrobras Agree to $1.1b Drill Ships Lease

Cyprus-based Ocean Rig UDW Inc said on Monday that it signed a $1.1 billion three-year contract with Brazil's state-run oil company, Petroleo Brasileiro SA, to

GAO: Ending Crude Export Ban Could Ease 'Price at the Pump'

As the energy profile of the U.S. continues to improve and evolve daily, fresh debate in favor of exporting oil and gas products -- which would have a significant impact on the U.

LNG

New Standard for LNG Cargo Containment Systems

Wilhelmsen Technical Solutions (WTS) said it has successfully completing the gas trial for the first LNG carrier built to a Boil Off Rate (BOR) of 0.08% per day.

LNG America, Buffalo Marine to Design LNG Bunker Fuel Network

LNG America announced it has entered an agreement with Buffalo Marine Service, Inc. (Buffalo Marine) to cooperate on the design of an LNG bunker fuel network for the U.

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.

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar
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: 0.2442 sec (4 req/sec)