St Engineering's Land Systems Arm Inject Capital in Brazil
Singapore Technologies Engineering Ltd (ST Engineering) announced today that SDG Kinetics Pte. Ltd. (SDGK) and Autonomous Technology Pte Ltd (ATPL), wholly owned subsidiaries of its land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics), have injected BRL5,499,450 (approximately S$3.2m) and BRL550 (approximately S$318) respectively into the capital of LeeBoy Brazil Equipamentos De Construção Ltda. (LeeBoy Brazil), as working capital for LeeBoy Brazil’s operations in Brazil. This equity injection increases SDGK and ATPL’s total investment in LeeBoy Brazil to BRL28.5m (approximately S$15.7m). ST Kinetics has correspondingly injected approximately S$3.2m into the capital of SDGK as funding for SDGK’s capital injection into LeeBoy Brazil.
Bouchard Opts for Articulated Tug Barge
ST Engineering’s U.S. shipyard, VT Halter Marine, Inc. (VT Halter Marine) announced that Bouchard Transportation Co., Inc. (Bouchard) has exercised its option for an additional Articulated Tug Barge (ATB) unit that was announced on February 15, 2013. The value of this ATB unit is in the region of $100 million. Both barges will measure 625 x 91 x 47 feet and each will have a 250,000-barrel capacity. They will be used to transport liquid petroleum. The barges will be American Bureau of Shipping (ABS) and United States Coast Guard (USCG) certified for Jones Act service. The 10,000hp twin screw ATB tug, classed by ABS as XA1 Towing Vessel, Dual Mode, USCG Sub-chapter M, will be equipped with an Interconnected Coupler System.
ST Engineering-Contract for Survey Vessel
Singapore Technologies Engineering Ltd (ST Engineering) announced that its marine arm, Singapore Technologies Marine Ltd (ST Marine), has secured a S$30m contract to provide detailed design, construction and outfitting of a 228 ft seismic survey vessel for Swire Pacific Offshore Operations (Pte) Ltd (SPO), a wholly-owned subsidiary of Swire Pacific Limited. Construction is expected to commence in May 2009 and delivery is planned for the second half of 2010. This contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.
Asean’s 1st Submarine Support Vessel
Singapore Technologies Marine Ltd (ST Marine), the marine arm of ST Engineering, successfully launched Swift Rescue, Asean’s first Submarine Support and Rescue Vessel (SSRV) on Saturday, 29 November 2008 at its main yard in Benoi. ST Marine had conceptualized, designed and built Swift Rescue to enable it with the primary capability of submarine rescue as well as fulfill other secondary roles. This 279 ft by 59 ft vessel is highly maneuverable with excellent sea-keeping capabilities.
ST Engineering $200m Contract
Singapore Technologies Engineering Ltd (ST Engineering) announced that its marine arm, Singapore Technologies Marine Ltd (ST Marine), has secured a contract in a basket of currencies amounting to about S$200m, to design and build a 141m Landing Platform Dock (LPD), two 23m Landing Craft Mechanised (LCM) and two 13m Landing Craft Vehicle and Personnel (LCVP), for a navy in the Asia Pacific region. Construction is scheduled to begin in mid 2009 and delivery is planned for in 2H 2012. This contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year. (www.stengg.com)
ST Marine Awarded $3m Contract
Singapore Technologies Marine Ltd (ST Marine) announced that it has been awarded a $3m contract from Bluestone Offshore Pte Ltd (Bluestone Offshore), a Singapore-based company specializing in deepwater geotechnical analysis. ST Marine will convert Bluestone Topaz, a Remotely Operated Vessel (ROV) cum Platform Supply Vessel to a geotechnical survey vessel at its main yard in Benoi. This is Bluestone’s first vessel as it enters into the subsea market’s niche segment of deepwater geotechnical analysis.
Security Council Formed With Assistance From Savi Technology
Every day, about 17,000 cargo containers enter U.S. ports, yet only one or two percent of them is routinely inspected. Since Sept. 11, government officials and global supply chain experts have been focusing on vulnerabilities and potential solutions to help ensure that weapons of mass destruction are not concealed in international cargo shipments. The formation of a new group of prominent supply chain thought leaders experienced in both the private and public sectors is being announced at the Intelligent Transportation Society of America's annual conference. Organized with assistance from Savi Technology, the Strategic Council on Security Technology is an international assembly of top executives from the world's largest port operators…
ST Engg to Acquire FGH Shipbuilding Facilities
Singapore Technologies Engineering Ltd (ST Engg), through its U.S. arm, Vision Technologies Kinetics Inc (VT Kinetics), has made a successful bid for the assets of Halter Marine, the shipbuilding arm of US-based Friede Goldman Halter Inc (FGH). The acquisition will include seven of FGH's shipbuilding facilities located in Louisiana and the Mississippi Gulf Coast. The proposed purchase consideration for FGH's shipbuilding facilities amounts to $66 million. The final award of the bid will be subjected to the approval of the Bankruptcy Court in Mississippi and other regulatory approvals. Final approvals by these authorities are expected to be made known by end August 2002.
