Ddw Sea News

Drydocks World LLC (DDW LLC) & Pacific Carriers Limited (PCL) a fully owned subsidiary of the Kuok (Singapore) Limited Group has announced that they have entered into a Shareholders Agreement in respect of the Drydocks World-Southeast Asia Pte. Limited (DDW SEA) Group. Under this agreement which was signed on September 26th 2012, PCL acquired & subscribed to 67% of the shareholding of DDW SEA. DDW SEA had recently completed a debt restructuring scheme in Singapore resulting in DDW SEA being a debt free company. DDW SEA will be renamed as DDW-PaxOcean Asia Pte Ltd (DDW-PaxOcean).

The new venture will subsequently be renamed DDW-PaxOcean Asia Pte Ltd and will continue to have its headquarters in Singapore. Khamis Juma Buamim, Chairman of Drydocks World and Maritime World, will also serve as the Chairman of the Board of DDW-PaxOcean Asia. Mr. Buamim said, “We are committed to this partnership with Kuok and its subsidiaries, which has a long-standing reputation in the shipping industry. Our clients can now benefit from the combined strengths of both our organisations and a broadened global reach within the maritime industry. All parties will work together to grow DDW-PaxOcean Asia into a leading yard in the region. The two partners will also collaborate on cross-promotional activities and other strategic initiatives within the offshore and marine industry.

Drydocks World announced that it has entered into a global strategic alliance with Kuok Group to form a Joint Venture between Drydocks World – SEA and Pacific Carriers Limited. The new venture will subsequently be renamed DDW-PaxOcean Asia Pte Ltd and will continue to have its headquarters in Singapore. Khamis Juma Buamim, Chairman of Drydocks World and Maritime World, will also serve as the Chairman of the Board of DDW-PaxOcean Asia. Mr. Buamim said, “We are committed to this partnership with Kuok and its subsidiaries, which has a long-standing reputation in the shipping industry.

Drydocks World - Southeast Asia Pte Limited, the Southeast Asian subsidiary of Drydocks World, announced that it has secured a newbuilding contract with Scottish Highlands International Inc., a subsidiary of Coastline Maritime Pte Ltd, to construct a 689-ft Ultra Large Multi-Purpose Offshore Construction Vessel. DDW-Sea operates four shipyards in Singapore and on Batam Island Indonesia providing offshore rig construction, volume shipbuilding and ship repair and conversion services. It currently has fourteen offshore supply vessels under construction. Its flagship building is OSA Sampson, the second of two Multi-Purpose Offshore Construction Vessels under construction at Drydocks World - Pertama shipyard for Coastline Maritime.

Drydocks World – Southeast Asia Pte. Limited (DDW-SEA), the Southeast Asian subsidiary of Drydocks World, announced the deliveries of vessels Endeavor, Greatship Ahalya, Mermaid Vision and Ark Dartmoor from their Drydocks World – Nanindah yard and Armada Tuah 104 from their Drydocks World – Pertama yard. The Endeavor, a fully pneumatic self discharge cement carrier designed by Shiptech Pte. Ltd. was delivered to Endeavor S.N.C., a subsidiary of Setaf Saget of France, a company of the Bourbon Group.