B J Marine Holdings Ltd News

Dutch shipbuilder Royal Bodewes announced that U.K.-based shipping company Scotline Marine Holdings Ltd has exercised its option for a fourth newbuild 4,800 DWAT Bodewes Trader, to be named Scot Isles and launched in the third quarter of 2021.A 90-meter sister ship Scot Ranger is currently being built at Royal Bodewes' yard in Hoogezand.Previous vessels in the series include Scot Explorer delivered in December 2019 and Scot Carrier handed over in December 2018.The British-flagged box-shaped singledeckers are classed by Lloyd's Register and are ice class 1FB FS (Finnish and Swedish)…

UK-based shipping company Scotline Marine Holdings has ordered newbuilding number 750 to be named Scot Ranger with Swedish/Finnish Ice Class 1A at Dutch shipyard Royal Bodewes Group.After the successful delivery of the Scot Carrier in November 2018, construction of the second vessel, Scot Explorer, started February 2019, said a press release.Scot Explorer is seen here with the aft section leaving the brand-new production facilities at the Royal Bodewes Shipyard site at Hoogezand. The vessel is expected to be launched in October 2019 with final delivery shortly afterwards.The Scot Explorer, a 4800 dwt Bodewes Trader type, with Swedish/Finnish…

Singapore, 20 January 2017– ASL Marine Holdings Ltd. respectively. This means the maturity dates of Series 006 Notes and Series 007 Notes will each be extended for three years to March 2020 and October 2021 respectively. By giving approval to the Consent Solicitation, Noteholders will receive a coupon step-up, with coupon rates of 5.50% p.a. and 5.85% p.a. for Series 006 Notes and Series 007 Notes, commencing on 28 March 2017 and 1 April 2017 respectively, and which are to be increased by 0.5% p.a. thereafter. ASL Marine will also conduct mandatory redemption of 2.5% of the original principal amount of each series at par with interest accrued…

ASL Shipyard Pte Ltd. a wholly-owned subsidiary of ASL Marine Holdings Ltd., has secured new shipbuilding contracts worth approximately S$140 million for the construction of a series of tugs and barges, the company’s board of directors announced Thursday. According to the shipbuilder, all of the vessels will be specially designed and built for overseas customers in the mining and marine infrastructure industries. The tugs and barges will be built at the group’s shipyards in Singapore and Indonesia. ASL Marine said none of its directors or controlling shareholders has any direct or indirect interest in the transactions other than through their shareholdings in the company.

Singapore’s ASL Marine Holdings Ltd said that its wholly-owned subsidiary, ASL Shipyard Pte Ltd  has clinched shipbuilding contracts worth approximately SGD140m ($100m) for the construction of a series of tugs and barges. ASL said the vessels will be designed and built for overseas customers engaged in the mining and marine infrastructure industries. The newbuildings will be constructed at the group’s shipyards in Singapore and Indonesia. Revenue from these new shipbuilding contracts will be recognised over the respective contract period in accordance with the Group’s revenue recognition policy basing on the percentage-of-completion method.

The Board of Directors of ASL Marine Holdings Ltd informed that its wholly-owned subsidiaries have reached a mutual agreement with customer on the rescission of shipbuilding contracts for two offshore support vessels. One of the vessels will be ready for operation by the end of the 1Q2015 and the other in 3Q2015. The Board is confident that there is demand for these quality vessels as the Company has already commenced discussions with potential buyers and/or charterers for the vessels. Unless the vessels are sold, the revenues booked to date will have to be reversed. However and regardless of the outcome of the current negotiations, the impact of the rescission on the earnings per share of the Group for the financial year ending 30 June 2015 is unlikely to be significant.

ASL Marine Holdings Ltd informs that following a preliminary assessment of the financial results for the fourth quarter ended 30 June 2014, it is expected that the Company and its subsidiaries will report a loss in the consolidated net results for 4Q FY2014. i. Lower shiprepair and conversion revenue recorded as works for the several units of service rig has not been completed as at 30 June 2014. ii. As this OSV is currently at its final stage of commissioning and will be ready for operation by the end of this calendar year, the management is confident that there is demand for it. The Company is in discussion with potential buyers and with charterers. Despite the loss in 4Q FY2014, the Group expects to remain profitable for the whole of the financial year ended 30 June 2014.

Singapore-based ASL Marine Holdings Ltd. say that its wholly-owned subsidiary, ASL Shipyard Pte Ltd (“ASLS”), has secured new shipbuilding contracts worth approximately S$97-million for the construction of six vessels. • Four Anchor Handling Tug/ Multi-Purpose Supply Vessels. The vessels have been ordered by customers in Europe and Singapore and will be built iunder the supervision of classification societies LR and ABS respectively. The two Emergency Response and Rescue Vessels (ERRV) will be constructed at the Group’s shipyard in Singapore, and are scheduled for delivery in 2015.

ASL Marine Holdings Ltd., an integrated marine company offering comprehensive services in shipbuilding, shiprepair and conversion, shipchartering and dredging engineering, reported revenue of S$465.4 million and net profit attributable to shareholders of S$45.3 million for the full year ended 30 June 2013 (FY2013). "Sustained oil prices and an increasing focus on deepwater oil fields have supported the growth in global oil and gas exploration and production expenditures. This development is expected to be positive for the Group’s shipbuilding and shipchartering segment, as it supports newbuild demand for offshore support vessels and healthy charter rates.

Total revenue for the Singapore-based group increased by 7.7% year-on-year to $391.2-million in financial year ended 30, June 2012. ASL Marine Holdings Ltd. is a vertically-integrated marine services group principally engaged in shipbuilding, shiprepair and conversion, shipchartering and other marine related services, catering to customers mainly from Asia Pacific, South Asia, Europe, Australia and the Middle East. According to Ang Kok Tian, Chairman and Managing Director, “...we managed to post a decent set of results on the back of robust shipbuilding operations, a resilient chartering business and increased orders for the shiprepair and conversion segment from the buoyant offshore oil and gas sector.

ASL Marine Holdings Ltd., a marine group engaged in shipbuilding, ship-repair and conversion, as well as ship chartering, has secured contracts worth S$132.5 million for the construction of five vessels. The vessels comprised four 75-tonne bollard-pull Diesel Electric Hybrid Azimuth Stern Drive Tugs and one Platform Supply Vessel, scheduled for delivery between the fourth quarter of 2013 and the fourth quarter of 2014. Separately, the Group’s ship-repair division also secured conversion and upgrading works for two drilling rigs. ASL Marine owns and operates shipyards in Singapore, Batam (Indonesia) and Guangdong (China), providing a comprehensive range of marine engineering services spanning myriad sectors/ industries.

The Maritime Administration approved six applications under section 9 of the Shipping Act, 1916, as amended. · GlobalSantaFe Drilling Company has received approval to transfer four mobile offshore drilling units to Vanuatu registry and flag without change in the ownership of said Vessels. The 4,976-gross-ton GLOMAR MAIN PASS I was built in 1982 in Pascagoula, MS. The 4,976-gross-ton GLOMAR MAIN PASS IV was built in 1982 in Pascagoula, MS. The 4,473-gross-ton GLOMAR HIGH ISLAND IV was built in 1980 in Quebec, Canada. The 4,473-gross-ton GLOMAR HIGH ISLAND VIII was built in 1981 in Quebec, Canada. · General Metals of Tacoma, Inc., Tacoma, WA has received approval to sell the 4,562-gross-ton barge TWIN HARBOR II to B.

Tanker firm Stelmar Marine Holdings Ltd. officially applied on Wednesday for listing on the Cyprus Stock Exchange. The company was established in 1992 by Greek Cypriot entrepreneur Stelios Haji Ioannou and owns and operates a fleet of 12 tankers with an average age of eight years. The company is planning to raise $54.6 million through the Cyprus Stock Exchange for further expansion of the fleet. The amount will be raised through the issue of 42 million new shares of face value $1 at the flotation price of $1.30, the company said. Approximately 27 million shares will be placed with private investors and 15 million will be offered to the public.

Slovenian shipping firm Intereuropa and port operator Luka Koper canceled a planned merger because the government was demanding the right to veto any management decisions in the new firm. The two companies had planned to merge on July 1. The state owns 51 percent of Luka, while Intereuropa is privately owned. The state's equity in the new company would have been 35.7 percent. "There will be no merger under such conditions where the government would have the right to veto practically every management decision," Radovan Vrabec, Intereuropa's deputy chief executive, said. He said the two companies would be ready to continue merger talks if the government eased its demands. Vrabec said the two firms would not suffer short-term damage due to the failure of the merger.

ASL Marine Holdings Ltd. has secured major shipbuilding contracts worth S$164 million. These contracts are for the construction of seven vessels involved in offshore oil and gas as well as port terminal operations. The seven vessels include six units of Rotor tugs secured from repeat customers in Europe as well as one unit of Heavy Lift cum Pipelay vessel secured from a customer in India. These contracts are due for delivery by 2009. The Group's shipbuilding order book stood at S$382 million as at 31 December 2006. With these new contracts, the Group's total shipbuilding order book has increased significantly by S$164 million. These new contracts are expected to keep ASL Marine busy till FY2009. Source: Rigzone

ASL Marine Holdings Ltd. ("ASL Marine" or the "Group"), an integrated marine company with shipyards in Singapore and Batam, Indonesia entered into contracts with several subcontractors and supplier to expand the capacity and capabilities of the Groups two shipyards in Singapore and Batam, to meet the growing demand for its services. 3) To upgrade the infrastructure and development works to the Batam yard costing approximately S$5.5 million. The total investment of S$22.7 million will be progressively paid based on work completed and funded through a combination of borrowings and internal funds This expansion is in line with the Groups overall strategy to strengthen and expand its shipbuilding and shiprepair capacity and capability.