Keppel Raise Stakes in Philippines Shipyard

Tuesday, August 03, 2010
One of three shipyards operated by Keppel Philippines Marine Inc, Subic Shipyard, provides repair, conversion and building services for ship owners and oil rig operators. Photo courtesy Keppel Corp.

Keppel Corporation Limited (Keppel Corp), through a subsidiary Keppel Philippines Marine Inc, (KPMI), is raising its shareholdings in two associated companies, Subic Shipyard and Engineering Inc. (SSEI) and Consort Land, Inc. (CLI) to boost its Near Market, Near Customer strategy in the Philippines.

SSEI is a shipyard located in Subic Bay, the Philippines, which provides repair, conversion and building services to shipowners and offshore operators in the region. It also carries out routine and specialized machinery reconditioning works, as well as steel fabrication for marine and offshore structures. CLI owns 72 ha of land including the 20 ha on which SSEI is situated.

A total cash consideration of approximately S$86.5 million will be made by Keppel to raise its effective stakes from 44% to 83.9% in SSEI and from 33.7% to 38.7% in CLI. The sale and purchase of shares in both companies is expected to be completed by the end of September 2010, following which, SSEI will become a Keppel subsidiary.

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

BHGI-designed ATB Unit Under Construction

Bristol Harbor Group, Inc. (BHGI) informs it is currently completing the detail design phase of a 399’ x 74’ x 30’ 80,000 BBL double hull oil tank barge and a 120’

Scorpio Bulkers Sells Three Newbuilds for $111m

Scorpio Bulkers Inc. announced that it has entered into agreements to sell three newbuild dry bulk vessels, including two Capesize ships and an Ultramax ship, for

Horizon Delivers Second 80’ Towboat to FMT

Horizon Shipbuilding, Inc. announced the delivery of another 80’ Inland River Towboat, the M/V Chip Stiebing, to Florida Marine Transporters (FMT) of Mandeville, La.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pod Propulsion Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1200 sec (8 req/sec)