Asl Marine Holdings News

The vessel owner-operator and shipbuilder  ASL Marine Holdings said that a fire occurred in its shipyard in Batam, Indonesia. ASL press release that initial investigations showed the incident occurred on board a tanker that was being repaired at one of its dry docks. The fire likely started inside and was confined to the pump room, the company added in its statement. Whilst this may restrict damage and deaths, nevertheless five people died and one person is injured, they were employees of our subcontractor. Initial investigations suggest that there was no explosion. "We are saddened by this incident and the loss of lives, and we extend our deepest condolences to the families of the victims.

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's ASL Marine Holdings says its subsidiary ASL Shipyard has won contracts worth approximately S$91-million for the construction of 3 Infield Support Vessels (of ART 100-42 class Rotor Tugs design) and a Seismic Support Vessel (SSV). The vessels are from customers in Australia and Norway respectively. The four vessels are expected to be completed in the first quarter of 2016. ASL adds that revenue from these new shipbuilding contracts will be recognised over the respective contract period in accordance with the Group's revenue recognition policy based on the percentage of completion method.

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.

The newest ROV support vessel to service Asia Pacific’s oil and gas industry has been launched in Singapore. Around 100 invited guests from across the global energy sector attended the christening ceremony of the Harkand Harmony at Keppel Marina. Sophie Mottais-Trouve, the wife of Harkand’s Vice President of Commercial and Strategy Olivier Trouve, opened the festivities by officially naming the 65m vessel. The Harmony’s christening follows two major milestones for the group, Harkand said.

Harkand said it is pursuing its investment strategy in Asia Pacific with the addition of a multi-million dollar new build ROV support vessel and the appointment of a new general manager to lead future growth. In the first of two major milestones for the group, the Harkand Harmony has been secured on a three-year hire purchase that will see Harkand extend its inspection, repair and maintenance (IRM) services in the growing Asia Pacific region. The 65-meter vessel, built by ASL Marine Holdings at Batam near Singapore, will be fitted with one Comanche workclass ROV for ROV support and air diving activities in the region, as well as a full survey kit and team for survey operations.

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.

ASL Marine Holdings won three new shipbuilding contracts worth $91m from repeat customers based in , Energy Current reported. The first contract with Belgian group DEDE is for a 12,860 KW self-propelled cutter suction dredger with a barge loading facility and a total installed power of about 13,000 KW.  The two other contracts are repeat orders from an unidentified European customer for two units of emergency response and rescue vessels.  The vessels will be deployed in the to support offshore oil and gas exploration and production activities. The three vessels are scheduled for delivery in 2010.

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.