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Hitachi Zosen Singapore News

01 Oct 2001

Keppel Hitachi Zosen Delivers Semi-tender Rig

Keppel Hitachi Zosen (KHZ) has delivered a Semi-Submersible Self-Erecting Tender Rig (SSETR) to Smedvig Asia Ltd (Smedvig). The SSETR was named West Alliance by Mrs. Patricia Chan, wife of Mr. Chan Heng Wah, Drilling Manager of Esso Production Malaysia Inc, at a naming ceremony held in Keppel Shipyard on September 29, 2001. West Alliance has a one plus one optional year drilling contract with Esso Malaysia, which is scheduled to commence in early November this year. Following the exercise of its option, Smedvig will own 100 per cent of West Alliance, and bring the total capital expenditure of the rig to about $85 million. West Alliance represents the newest generation of SSETRs, incorporating the latest technology and equipment.

13 Jul 2000

Keppel Hitachi Zosen Wins $74.6 million Contract

Keppel Hitachi Zosen has clinched a contract to build two cable laying and repair vessels for a total contract value of more than $74.6 million from C. S. Tycom Reliance, Inc., a subsidiary of Tyco Submarine Systems Ltd. The construction of the cable laying and repair ships will be performed by Hitachi Zosen Singapore, a division of Keppel Hitachi Zosen. Work on the two newbuildings has commenced, with the first vessel scheduled for delivery in the third quarter, and the second vessel in the fourth quarter of 2001. The cable laying and repair vessels, each 7,8000-dwt, are twinscrew, diesel electric-driven and dynamically positioned ships. Measuring 459 ft. (140 m), a breadth of 69 ft. (21 m), with a designed load draft of 25 ft. (7.8 m), the vessels have a speed of 13.9 knots.

09 Mar 2000

High Times Again in Singapore?

Singapore, once revered for its seemingly insurmountable edge in the ship repair and conversion business, has fallen on harder times in recent years. The forces which have slowed the area's break-neck pace of expansion and dominance are not at all unfamiliar to shipbuilders and repairers in the U.S. and Europe: rising land and labor costs, corporate consolidations and a seemingly endless stream of cut-rate competitors. According to recent financial reports from the area, though, it appears that Singapore's two ship repair yards, Keppel Hitachi Zosen Ltd. and SembCorp Marine Ltd., have found the balance to reign supreme once again. The companies were expected to report modest profit growth after almost two years of restructuring and consolidation.

11 Feb 2000

Singapore Yards Back on Track?

Singapore's two ship-repair yards, Keppel Hitachi Zosen Ltd. and SembCorp Marine Ltd., are expected to report modest profit growth after almost two years of restructuring and consolidation. Keppel Hitachi Zosen was expected to turn in profit of about S$33 million for 1999 after a S$65 million loss for the nine months ended December 1998, analysts said. SembCorp Marine, due to release results today (Feb. 14), should post a 10 percent rise in earnings of between S$78 million and S$80 million against 1998 profit of S$71.81 million. Squeezed by rising land and wage costs, Singapore's shipyard industry underwent a consolidation in 1997 and 1998 that saw the city state's main players reduced to two from four.

02 Aug 2001

KHZ to Deliver Cableships to TyCom

Keppel Hitachi Zosen Limited (KHZ) will deliver its first cable laying and repair vessel to TyCom by end August 2001. The vessel was named TyCom Reliance by Lady Sponsor, Ms Claire Calandra, Executive Vice-President and COO of TyCom at the naming ceremony at Hitachi Zosen Singapore yard yesterday. When commissioned, TyCom Reliance will be the most efficient cable laying and repair ship in TyCom's fleet. KHZ was awarded the first contract to build two cable laying and repair vessels for TyCom in April 2000. Subsequently, TyCom exercised its option to build an additional four sister vessels in November 2000. The second vessel is currently being built in Keppel Shipyard and delivery is expected in the fourth quarter of this year.

09 Dec 1999

Keppel Hitachi Cuts Workforce

The recently completed sale of Keppel Marine Industries Limited's marine-related businesses to Keppel Hitachi Zosen for about $99.4 million has allowed Keppel to "carry out a reduction of headcount in the three yards that will result in savings of about $2.9 million a year. Following the consolidation of Keppel Shipyard, Hitachi Zosen Singapore and Keppel Singmarine Dockyard, under Keppel Hitachi Zosen, the Keppel Group is rationalizing its operations to remain competitive.

09 Feb 2000

Singapore Shiprepair Yards To Report Only Modest Gains

Singapore's two ship-repair yards, Keppel Hitachi Zosen Ltd. and SembCorp Marine Ltd., are expected to report modest profit growth after almost two years of restructuring and consolidation. Keppel Hitachi Zosen is expected to turn in profit of about $19.5 million for 1999 after a $38.3 million loss for the nine months ended December 1998, analysts said. SembCorp Marine, due to release results next Monday, should post a 10 percent rise in earnings of between $46 million and $47.2 million against 1998 profit of $42.3 million. Squeezed by rising land and wage costs, Singapore's shipyard industry underwent a consolidation in 1997 and 1998 that saw the main players reduced to two from four.