Labroy News

Viking Offshore & Marine Limited (Viking) which is building a portfolio of mainstream offshore, marine and drilling assets, said today that it has secured a 50-month bareboat charter for a land rig system worth approximately US $32 million. Under the contract, SGX-listed Viking’s wholly owned subsidiary Viking Asset  a Chinese land rig specialist from September 2014. The Chinese rig builder, which specialises in the design, manufacture and assembly of land rigs, has secured a contract with a major South-Asian energy operator, which will deploy the rig in North-Africa. Drilling will commence immediately on oil exploration sites licensed to the joint venture of the South-Asian energy operator and the local energy authorities.

Viking Offshore & Marine Limited has announced it would participate in the ownership of a second cantilever drilling jack-up rig, further strengthening its partnership with Singapore rig veteran, Chan Kwan Bian as it accelerates its entry into mainstream offshore rig chartering. SGX Catalist-listed Viking said its wholly-owned Viking Asset Management Pte. Ltd. (VAM) will invest US$5.4 million to take a 30%-stake in Quick Booms Investments Limited (“QBI”), a special purpose vehicle controlled by Chan which has a contract with a yard to build the CJ46-X100-D GustoMSC designed for use in water depth up to 375 feet and can accommodate 120 men during operation.

Background: On 27 June 2012, DDW announced that it had entered into a joint venture agreement with Pacific Carriers Limited ("PCL"), a wholly-owned subsidiary of Kuok (Singapore) Limited. The SEA Group would, following completion of the transaction, be managed as a joint venture between DDW and PCL and would be called DDW-PaxOcean Asia. Pte Ltd. Completion of this transaction was conditional on, amongst other things, the Schemes being approved by the Creditors. The creditors meeting duly approved the proposed schemes, commenting Khamis Juma Buamim, Chairman of Drydocks World and Maritime World said:  “I am pleased with this strong support and overwhelming commitment from our creditors to keep the company sustainable and poised for growth with all its great potentials.

Three recent deliveries highlight the series of offshore support vessels designed by the Offshore Ship Designers group. The VOS Pathfinder completes a series of five basic IMT955 Standby vessels built at Astilleros Zamakona, Spain, for Vroon Offshore Services. The 180 ft loa VOS Pathfinder was contracted in October to HRL Centrica for a five-year period working in the Morecambe Bay gas field. Also recently delivered are the VOS Pioneer and VOS Prospector, the first two of ten IMT 955-L Field Support Vessels building at Astilleros Zamakona, Spain for Vroon Offshore.

Sultan Ahmed Bin Sulayem, Chairman of Dubai World, one of world’s largest holding companies, visited the Nanindah and Graha shipyards last week, at Batam in Indonesia and Singapore, which are part of Drydocks World SE Asia, the recent addition to Drydocks World, the group’s global ship building, repair and conversion arm. The visit was part of an inspection and review tour to evaluate progress achieved by these shipyards and to study the prospects of expanding Drydocks World SE Asia’s operations in the region. Mr.

Dry Docks World announced that Denis Welch has been appointed CEO of Drydocks World South East Asia and will be based in their Singapore Office. Following the recent acquisition of two significant ship repair, shipbuilding and rig building companies, based in Singapore and Batam, Mr. Welch will oversee the expansion of Drydocks World operations in the region. The South East Asian group now encompasses the ex-Pan United Maritime ship repair and ship building facilities in Singapore and Indonesia, and also the Ex-Labroy ship building and rig building yards in Batam. Work is also underway on Batam Maritime Centre, a large repair and ship building facility, which will be established on a 175 hectare plot on the island of Batam.

Dubai Drydocks World, the shipbuilding arm of state investor Dubai World, is eyeing yards in China, India and Vietnam, to expand capacity in the hot business of rig building with oil at records near $100 a barrel. Chief executive Geoff Taylor told Reuters on Thursday that the company was part of a joint venture which is in advanced talks to buy a small unlisted shipyard in China's Jiangsu province along the Yangtze River delta. Taylor said the deal was likely to cost Drydock World a total of $55 million. After the acquisition, likely to be completed in the next few weeks, the company plans to inject more cash to turn the yard into a larger shipbuilding and repair facility, he said.

Expanding its presence in the growing offshore West African market, Seabulk Offshore -- a subsidiary of Seabulk International, Inc. (Nasdaq: SBLK) -- announced that it has ordered two additional vessels for delivery in late 2004 and mid-2005, respectively. Built at a combined cost of approximately $23.4 million, the new vessels will work under long-term contracts for a major international oil company in offshore Angola. "West Africa is our biggest market and represents more than half of Seabulk Offshore's revenue," commented Larry D. Francois, President of Seabulk Offshore. The vessels, the Seabulk Advantage and the Seabulk Luanda, bring to five the total number of newbuilds currently under construction for Seabulk Offshore.

Expanding its presence in the growing offshore West African market, Seabulk Offshore -- a subsidiary of Seabulk International, Inc. has ordered two additional vessels for delivery in late 2004 and mid-2005, respectively. Built at a combined cost of approximately $23.4 million, the new vessels will work under long-term contracts for a major international oil company in offshore Angola. "West Africa is our biggest market and represents more than half of Seabulk Offshore's revenue," commented Larry D. Francois, President of Seabulk Offshore. The vessels, the Seabulk Advantage and the Seabulk Luanda, bring to five the total number of newbuilds currently under construction for Seabulk Offshore. Of the five, three are destined for West Africa and two for Brazil.

Autoship Systems Corporation (ASC) has sold CAD/CAM software to Labroy Shipbuilding and Engineering Pte Ltd (Labroy) of Singapore. transformation. First, existing software will be upgraded to present versions, and another seat of each of Autoship Pro and Autostructure will be added. The sale will also augment Labroy's software suite with three seats of Production Manager (ASC's nesting and stock management program). Lastly, to ensure that Labroy's marine engineers will enjoy the very latest in software features, the sale includes a maintenance and support package as well as a 10-day training seminar. Labroy Shipbuilding and Engineering Pte Ltd http://www.labroy.com.sg together with its wholly-owned subsidiary PT Nanindah Mutiara Shipyard…

Expanding its presence in the growing offshore West African market, Seabulk has ordered two additional vessels for delivery in late 2004 and mid-2005, respectively. Built at a combined cost of approximately $23.4 million, the new vessels will work under long-term contracts for a major international oil company in offshore Angola. "West Africa is our biggest market and represents more than half of Seabulk Offshore's revenue," commented Larry D. Francois, President of Seabulk Offshore. The vessels, the Seabulk Advantage and the Seabulk Luanda, bring to five the total number of newbuilds currently under construction for Seabulk Offshore.

On June 17, seven armed men who abducted the master, chief officer, chief engineer and 2nd officer boarded the Singapore registered tugboat, SM 88. SM88, owned by Intone Pte Ltd was towing Labroy 179 between Jolo and Basilan Islands in the Philippines when a speedboat with 8 occupants armed with rifles approached the vessels. Prior to that, they fired a few warning shots in the air and demanded the tug to stop. Seven of the armed personnel boarded the tug and demanded that the Master, Chief Officer, Chief Engineer and 2nd Officer to board their speedboat. They then sped away with the 4 crew members towards Jolo Island. The kidnappers took from the tugboat a VHF radio, handheld walkie-talkies and a set of dividers. They also cut the cable of the VHF radio.

The propulsion specialist SCHOTTEL, with headquarters in Spay/Rhine, remains on course for success, rounding off the year 2004 with another sales record. The corporate goal of 100 million euro in group sales for the new building and service sectors was achieved (2003: 90 million euro). Exports accounted again for about 80 percent. Of particular significance are the latest worldwide sales successes in the areas of tug propulsion systems, offshore supply vessels and tankers, research vessels, ferries and military vessels. More and more SCHOTTEL propulsion and manoeuvring systems are also being successfully implemented in the megayacht sector. Also contributing to the good overall results is our Service department, with a large number of conversions and modernizations of existing systems.

In 2005, Robert Allan Ltd will celebrate its 75th year of continuous business as a firm of Consulting Naval Architects. From its base in Vancouver, the company serves the international marine community with a wide range of specialized workboat designs, as it has done since its inception, through three generations of family ownership. The company has experienced considerable growth in the past decade, and currently has more than 30 vessels to its designs under construction around the world, including a myriad of high-performance tugboats of all types, fireboats, crewboats, patrol craft, ferries, and barges. The following are some highlights of current Robert Allan Ltd. projects that will be delivered in the early months of 2005.

Singapore's Labroy Marine said it had won two shipbuilding orders for two platform supply vessels from a German customer worth a total of $47.2m scheduled for delivery in 2009. Source: Reuters

Swire Pacific Offshore ordered another four IMT966 anchor handlers to the IMT Marine Consultants design. These follow six similar vessels already under construction at Labroy Shipyards, Singapore. Scotland-based IMT Marine Consultants, partner in the Offshore Ship Designers Group, was responsible for the design of these innovative and powerful vessels. The 120-ton bollard pull vessels are optimized for world-wide service of offshore towage, anchor handling and logistics support activities in all weather conditions. One remarkable feature of the design is that the upper part of the bridge deck can be removed and stored on the main deck for passage into the Caspian Sea. The vessel’s beam is optimised for Caspian Sea passage.

The Siba Ships group, which includes the shipping company Siba Ships Spa based in Brescia (Italy) and its newly established subsidiary company Siba Ships Asia Pte Ltd based in Singapore, has closed its 2006 financial year with a major surge in turnover and a profit of more than 6 million Euros, a result which continues the four positive year trend of the group. Mauro Balzarini, chairman of Siba Ships, says that in the course of 2006 the company, exploiting the favorable trend of shipping, pursued an expansion and diversification process which was already in progress. The company strengthened its presence in South-East Asia, a geographical area of continuously growing interest, by opening a new wholly owned company Siba Ships Asia Pte Ltd in Singapore.

Ezra Holdings has awarded a contract to Labroy Shipbuilding and Engineering worth $25.1m. The contract is to build an ultra-large pipe laying, accommodation, well service and maintenance vessel. The vessel is to be delivered by the first half of 2009. It can be used for all types of deepwater work in demanding weather conditions. The vessel is expected to broaden Ezra's market reach in the offshore production and construction segment. Source: Channel News Asia

Labroy Marine has clinched two shipbuilding contracts worth a total of $37.8m. Under the contracts, it will build two anchor handling tug supply vessels for a Norwegian customer. The vessels are scheduled to be delivered in 2009. The contracts are not expected to have any material effect on Labroy's earnings per share and net tangible assets per share this year. Source: Channel News Asia

Singapore shipbuilder Labroy Marine said on Wednesday it has signed two shipbuilding contracts worth $58.9m in total. Labroy, whose regular customers for offshore support vessels are in the United States, Europe and the Middle East, said the two ships are to be delivered in 2009. Source: Reuters

Singapore's shipyards want a bigger share of the offshore shipbuilding industry, eyeing areas now dominated by South Korea, Japan and Norway. According to Reuters, Singapore-listed yards have secured well over half the 92 oil drilling rigs under construction worldwide, and are now looking to expand capacity in a bid to meet a next wave of demand for vessels and platforms needed to pump oil and gas from the ocean bed to the market. Industry executives see rising demand for deep-water floating production capacity as oil prices remain high and some 84 new offshore fields are set to come on stream in the next five years. As Keppel Corp.

Labroy Marine Ltd. announced that the company's Singapore subsidiary Labroy Shipbuilding And Engineering Pte Ltd has signed a shipbuilding contract worth $34,575,000m for the construction of one unit of 30,000 DWT self discharging cement carrier scheduled to be delivered in March 2008. This shipbuilding contract is not expected to have any material effect on the earnings per share and net tangible assets per share of Labroy Group in the current year.

carrier under construction at Labroy Shipyard in Singapore. delivery from the yard in 2007. The new vessels will be capable of carrying approximately 30,000 sheep or 6,500 cattle on seven decks (four enclosed and three open). They will have a deadweight of 7,850 tonnes and a speed of 18 knots. onboard. Fodder, stored onboard in a purpose-built silo, is distributed to the animals using an unmanned and fully automated system. system, capable of producing 350 tonnes a day, is also automated to ensure that every pen has fresh water available 24 hours a day. system that ensures no less than 80 air changes per hour in the enclosed decks and 40 air changes per hour in the open decks.