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Pan United News

25 Mar 2013

Shipbuilding: DDW's Future is Bright

During the past two years Drydocks World (DDW) has suffered from the restraints of a financial problem following the purchase of one shipyard in Singapore and one on the Indonesian island of Batam (both former Pan United shipyards) and two more on Batam (both former Leroy shipyards). This debt has now been restructured and the management of those yards has been taken over by China’s Paxocean, thus leaving DDW is a much better state and looking forward to a better future. The main yard of DDW is Drydocks World – Dubai (DDW-D)…

22 Apr 2010

Pan United Tugboat Goes Missing

According to an April 21 report from ChannelNewsAsia.com, Pan United tugboat, P-U 2007, went missing in waters off Kuantan in Malaysia the night of April 19. Nine crew members were on board the tugboat, which belongs to Pan United's wholly-owned subsidiary, P.U. Vision. The tugboat which was towing a barge, also owned by P.U. Vision, was en route to Thailand. According to the ReCAAP Information Sharing Centre Incident Alert and Bryant’s Maritime News, the tug has possibly been hijacked. The vessel’s SSAS has been activated and radiotelephone contact has been lost. The tug appears to be heading easterly in the general direction of the Philippines. The barge has been sighted by an airplane, but there have been no visual contacts of the tug.

22 Oct 2008

Drydocks World – SE Asia Expansion

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.

24 Mar 2008

Welch New CEO of Drydocks World

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.

25 Jan 2008

Drydocks World Selects Foran

Drydocks World, a subsidiary of Dubai World, is an expanding international player in ship repair, conversion, new building and other marine related activities. Those in the Group at present include Drydocks World – Dubai, which is an amalgamation of Dubai Drydocks and Jadaf Dubai; Platinum Yachts FZCO and Platinum Yacht Management; Drydocks World – Singapore, formerly Pan United Marine and Drydocks World – Batam, a green field development in Indonesia. New building has been one of the key areas of focus for the Group. The Dubai yard in particular has seen many innovations.

10 Jan 2008

Dubai Drydocks World Eyes Asia Expansion

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.

08 Nov 2007

Drydocks World Sets up New Group

Drydocks World, a subsidiary of Dubai World, has announced that it has successfully completed the setting up of a new group under its umbrella. Geoff Taylor, CEO of Drydocks World, said Drydocks World will monitor, control and set procedures in respect of finance, HR and other common functions in group companies. Those in the group at present include Drydocks World Dubai, which is an amalgamation of Dubai Drydocks and Jadaf, Drydocks World Singapore, formerly Pan United Marine, Drydocks World Batam, a green field development in Indonesia, Platinum Yachts FZ and Platinum Yacht management. Drydocks World Dubai is the complete amalgamation of Jadaf Shipyard and Dubai Drydocks.

12 Jul 2007

Vessel Sale, Leaseback Nets $9m Profit

Hallin Marine entered into an agreement to sell its vessel, SOV Ullswater, for $45million. The agreement will generate a profit to Hallin of approximately $9 million in the financial year 2008 and will enable the company to operate the vessel for 10 years under a bare-boat charter. Oslo based marine group RS Platou has set up a company to buy the Ullswater and to charter it to Hallin Marine at a competitive fixed rate for the duration of the charter. Hallin will receive an immediate initial payment of $5m, with the balance on completion, which is currently scheduled for October 2008, when the construction of the Ullswater is completed and the vessel has passed sea trials.

29 May 2007

Dubai Drydocks Moves into Singapore Market

Dubai Drydocks World LLC (DD World), the recently-launched maritime holding company, and a member of Dubai World, announced its first major overseas acquisition by making a voluntary conditional cash offer for Pan-United Marine Limited (PUM) of Singapore. PUM is a major shipyard with facilities in both Singapore and Batam, Indonesia. DD World made a voluntary conditional cash offer for all the issued and paid-up ordinary shares of PUM and has received irrevocable undertakings from the controlling shareholders of PUM to accept the Offer from DD World in respect of 70 per cent of all the shares in PUM in the aggregate. Like DD World, PUM is involved in ship repair, ship building and conversions.

03 May 2007

Pan-United Marine Wins $64m Contracts

Pan-United Marine , a Singapore shipbuilder, has won two shipbuilding contracts worth a total of $64m. Delivery of the vessels is expected to be at the end of 2009, Pan-United said.

27 Jul 2006

Singapore’s Offshore Shipbuilding Industry on the Rise

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.

12 Jun 2001

Pan United Shipyard Lands $38 Million Vessel Contract

Singapore's Pan United Corp Ltd said on Tuesday its unit Pan United Shipyard Pte Ltd won a $38 million shipbuilding contract from Shanara Maritime. The contract was for a diving construction and support vessel, which would be delivered in the first half of next year, Pan United said in a statement to the Singapore Exchange.

07 Oct 2005

Singapore Firm Orders More Tugs

Pan-United Shipping a member of the Pan-United Group of Singapore manages and operates a number of ocean going tugs as well as bulk carriers and time charter out container ships for trading in the waters between the Arabian Gulf and South Africa to the west and east to China and Japan. The company’s current towing fleet includes eight chartered tugs and four company owned boats. Two of these are new builds in the last year. Following the success of those two vessels and their 10,000 tonne capacity barges, the firm has signed orders for two more tug and barge sets to be built in China. In the past the ABS certified ISO 9001 firm had purchased used equipment with a variety of engines but now, explains Executive Director Jimmy Lee, “We have moved to new build with high speed engines.