ABS Grants AiP for Autonomous Tug Project
Classification society ABS has awarded Approval in Principle (AIP) to technology in an autonomous tug project from ST Engineering, POSH, and M1 Limited.The Smart Maritime Autonomous Vessel (SMAV) project saw successful sea trials carried out in 2020 and has now received ABS AIP for its autonomous navigation and collision detection and collision avoidance (CDCA) technology.The POSH Harvest harbor tug was retrofitted with autonomous navigation and CDCA functions. These functionsâŚ
Keppel Posts Lower Profits
The Singaporean offshore and marine conglomerate Keppel Corporation reported a net profit of S$203 million (USD 150mln) for the first three months of 2019, 40% below that of S$337 million for 1Q 2018.In 1Q 2018, the Group benefitted from a S$289 million gain arising from the en-bloc sale of Keppel Cove in Zhongshan, China as compared to gains of S$174 million in the current period from the divestment of a 70% interest in Dong Nai Waterfront City, Vietnam and the re-measurement of previously held interests in M1 Limited (M1) at acquisition date.The Group achieved revenue of S$1,531 million for 1Q 2019, which was $61 million or 4% higher than that of 1Q 2018.
Singapore MPA Unveils Smart Port Initiatives
The Maritime and Port Authority of Singapore (MPA) has announced several new initiatives to improve connectivity in the Port of Singapore, including a new 4G mobile network built in collaboration with M1 Limited. The MPA and M1 also signed a Memorandum of Understanding (MOU) to work together in promoting this 4G technology to shipping companies operating within Singapore port waters, to increase connectivity in an effort to improve operations and crew welfare. Both organizations have also committed to research and testing of new technologies to improve the network in the future. Dubbed âSmart Portâ, the initiatives range from the installation of 4G broadband access in Singapore port waters for the maritime community and for vessels in Singapore port watersâŚ
Keppel's Senior Executive Director to Retire
Keppel Corporation Limited announced that Teo Soon Hoe, Senior Executive Director, Keppel Corporation will retire June 1, 2014. Teo will step down as Chairman of Keppel Telecommunications & Transportation Ltd (Keppel T&T) and non-independent director of Keppel Infrastructure Fund Management Pte Ltd (KIFM), Trustee Manager of Keppel Infrastructure Trust, with effect from the same date. Teo will continue to represent Keppel Corporation as its nominee director on the boards of Tianjin Eco-city companies, and k1 Ventures Limited. Further, Keppel Land Limited (Keppel Land) and Keppel T&T have appointed him as Senior Advisor to their respective boards and he will also continue to represent Keppel T&T as its nominee director on the board of M1 Limited.
Keppel Appoints New CFO
In a move towards succession planning, the Board of Directors of Keppel Corporation Limited ("Keppel" / the "Company") announced that Mr Teo Soon Hoe will relinquish his role as Group Finance Director with effect from 1 January 2012. Mr Teo, 62, will continue to serve as Senior Executive Director and remain on the Keppel Board. He will remain as Chairman on the boards of Keppel Telecommunications & Transportation Ltd and M1 Limited. He will assist the CEO, Mr Choo Chiau Beng to strategize and grow Keppel's competencies in Sustainable Development, and oversee Keppel's investment portfolio and special projects such as the Sino-Singapore Tianjin Eco-City.
