Keppel Joint Venture, Azerbaijan Shipyard
President of Azerbaijan, HE Ilham Aliyev breaks ground for the new yard in the presence of Singapore’s Minister for Foreign Affairs, Mr George Yeo. Fortifying its presence in the Caspian Region, Keppel Offshore & Marine Limited (Keppel O&M) joins hands with State Oil Company of Azerbaijan Republic (SOCAR) and Azerbaijan Investment Company (AIC) to develop and manage a new 52-ha shipbuilding and shiprepair facility in Baku, Azerbaijan. The new SOCAR-Keppel Shipyard will be developed over a period of two to three years with an investment of US$386 million.
Singapore Seeks Update on Granite Barges
Singapore asked Indonesia on Monday for an update on the fate of granite shipments bound for Singapore's booming construction industry that the Indonesian navy detained last month, according to the AP. The detention of the tugboats and barges in late February came soon after Indonesia banned exports of sand used to make concrete for resource-poor Singapore on Jan. 23. Indonesia cited environmental concerns and fears that sand exports could shrink Indonesia's borders. But there has been no ban on exports of granite, and the detention of the vessels has become another irritant amid the sometimes testy relations between the two neighbors.
Indonesia Halts Ships Carrying Granite to Singapore
Indonesia has detained 24 tugboats and barges carrying granite chips to Singapore, potentially threatening construction, a month after it banned all sand exports to its neighbor. Singapore Foreign Minister George Yeo said the 24 vessels, most of which fly the Singapore flag, were detained by Indonesian officials on Monday morning. Singapore’s construction sector is booming after years in the doldrums, although Indonesia’s ban on sand exports has worried investors that the recovery may be halted by tight sand supplies. Relations between Singapore and Indonesia have soured this year amid a diplomatic dispute over Jakarta’s decision to ban sand exports to the city state.
Singapore Foreign Minister Supports Panama Canal Expansion
Singapore’s Minister for Foreign Affairs George Yeo visited the Panama Canal Saturday, September 16. Foreign Minister Yeo traveled to Panama as part of an official delegation, which also included Panamanian Ambassador to Singapore Eduardo Real. The delegation was received at the Miraflores Visitors Center by Minister of Canal Affairs and concurrent Panama Canal Authority Board Chairman Dr. Ricaurte Vásquez, who briefed them on the expansion proposal and Canal operations. Earlier this year, Singapore signed a Free Trade Agreement with Panama. Foreign Minister Yeo shared with Dr. Vásquez that, “Singapore is a maritime hub. We live on trade. And the more open the world is to free movement of ships, the better it is for Singapore.
Brazillian Yard Preps To Ride Offshore Wave
As ship and boatyards in the Gulf of Mexico eagerly await 'Offshore Boom 2001,' it might behoove them to look at activities transpiring outside of their own backyard, as the business of building offshore rigs and vessels has truly become a global bonanza. For example, down south, way down south in Brazil, FELS Setal SA has become that country's preferred shipyard for offshore and marine services on account of its quality workmanship and on-time deliveries, after just one year of its formation. The 60/40 joint venture company between Keppel FELS Energy & Infrastructure Ltd. (Keppel FELS) of Singapore and the PEM Setal Group of Brazil has won a total of $120 million worth of contracts in this short time.
