ASL Marine gets approval to delay redeeming $105m bonds
Singapore, 20 January 2017– ASL Marine Holdings Ltd. respectively. This means the maturity dates of Series 006 Notes and Series 007 Notes will each be extended for three years to March 2020 and October 2021 respectively. By giving approval to the Consent Solicitation, Noteholders will receive a coupon step-up, with coupon rates of 5.50% p.a. and 5.85% p.a. for Series 006 Notes and Series 007 Notes, commencing on 28 March 2017 and 1 April 2017 respectively, and which are to be increased by 0.5% p.a. thereafter.
ASL to Build Three Rotor Tugs, Seismic Vessel
Singapore's ASL Marine Holdings says its subsidiary ASL Shipyard has won contracts worth approximately S$91-million for the construction of 3 Infield Support Vessels (of ART 100-42 class Rotor Tugs design) and a Seismic Support Vessel (SSV). The vessels are from customers in Australia and Norway respectively. The four vessels are expected to be completed in the first quarter of 2016. ASL adds that revenue from these new shipbuilding contracts will be recognised over the respective…
ASL Marine Wins Contracts
Singapore shipbuilder ASL Marine said in a statement on Tuesday it has won shipbuilding contracts worth $108.3m. ASL Marine's shipyard unit will construct seven vessels in total for customers in Europe and India and expects to complete the projects by 2009. Source: Reuters
ASL Marine Secures New Contracts
ASL Marine has secured new shipbuilding contracts. The contracts are for the construction of six Anchor Handling Towing/ Supply Vessels, which are used to tow and anchor oil rig platforms as well as other support services. Five of the units are expected to be completed in 2009, and the remaining unit in early 2010. Just three weeks ago, ASL Marine announced it had secured contracts for one unit of Heavy Lift cum Pipelay Vessel and six units of Rotor Tugs. Source: CNA
Singapore ASL To Expand Shipyard Capacity
ASL Marine Holdings Ltd. ("ASL Marine" or the "Group"), an integrated marine company with shipyards in Singapore and Batam, Indonesia entered into contracts with several subcontractors and supplier to expand the capacity and capabilities of the Groups two shipyards in Singapore and Batam, to meet the growing demand for its services. 3) To upgrade the infrastructure and development works to the Batam yard costing approximately S$5.5 million. The total investment of S$22.7 million will be progressively paid based on work completed and funded through a combination of borrowings and internal funds This expansion is in line with the Groups overall strategy to strengthen and expand its shipbuilding and shiprepair capacity and capability.
Tugs, PSV Ordered from Singapore-based Shipbuilder
ASL Marine Holdings Ltd., a marine group engaged in shipbuilding, ship-repair and conversion, as well as ship chartering, has secured contracts worth S$132.5 million for the construction of five vessels. The vessels comprised four 75-tonne bollard-pull Diesel Electric Hybrid Azimuth Stern Drive Tugs and one Platform Supply Vessel, scheduled for delivery between the fourth quarter of 2013 and the fourth quarter of 2014. Separately, the Group’s ship-repair division also secured conversion and upgrading works for two drilling rigs. ASL Marine owns and operates shipyards in Singapore, Batam (Indonesia) and Guangdong (China), providing a comprehensive range of marine engineering services spanning myriad sectors/ industries.
ASL Shipyard Secures S$140mln Build Contracts
ASL Shipyard Pte Ltd. a wholly-owned subsidiary of ASL Marine Holdings Ltd., has secured new shipbuilding contracts worth approximately S$140 million for the construction of a series of tugs and barges, the company’s board of directors announced Thursday. According to the shipbuilder, all of the vessels will be specially designed and built for overseas customers in the mining and marine infrastructure industries. The tugs and barges will be built at the group’s shipyards in Singapore and Indonesia. ASL Marine said none of its directors or controlling shareholders has any direct or indirect interest in the transactions other than through their shareholdings in the company.
ASL Marine Wins Seven-vessel Contract
ASL Marine Holdings Ltd. has secured major shipbuilding contracts worth S$164 million. These contracts are for the construction of seven vessels involved in offshore oil and gas as well as port terminal operations. The seven vessels include six units of Rotor tugs secured from repeat customers in Europe as well as one unit of Heavy Lift cum Pipelay vessel secured from a customer in India. These contracts are due for delivery by 2009. The Group's shipbuilding order book stood at S$382 million as at 31 December 2006. With these new contracts, the Group's total shipbuilding order book has increased significantly by S$164 million. These new contracts are expected to keep ASL Marine busy till FY2009. Source: Rigzone
ASL Marine Secures New Contracts
ASL Marine has secured new shipbuilding contracts worth $76.6m. The contracts are for the construction of six Anchor Handling Towing/ Supply Vessels, which are used to tow and anchor oil rig platforms as well as other support services. Five of the units are expected to be completed in 2009, and the remaining unit in early 2010. Source: CNA Five of the units are expected to be completed in 2009, and the remaining unit in early 2010. Just three weeks ago, ASL Marine announced it had secured S$164 million worth of shipbuilding contracts for one unit of Heavy Lift cum Pipelay Vessel and six units of Rotor Tugs. Source: CNA
ASL Bags New Shipbuilding Contract
Singapore’s ASL Marine Holdings Ltd said that its wholly-owned subsidiary, ASL Shipyard Pte Ltd has clinched shipbuilding contracts worth approximately SGD140m ($100m) for the construction of a series of tugs and barges. ASL said the vessels will be designed and built for overseas customers engaged in the mining and marine infrastructure industries. The newbuildings will be constructed at the group’s shipyards in Singapore and Indonesia. Revenue from these new shipbuilding contracts…
ASL Marine Secures New Contracts
Shipbuilder ASL Marine has secured a total S$156 million worth of contracts from its shipbuilding, shiprepair & conversion, shipchartering and dredging engineering divisions. The contracts secured are mainly from repeat customers in the region as well as in the Middle East, the US and Europe, it said, adding that there are potential additional orders from a certain customer upon successful delivery of current projects. The shipbuilding and shiprepair & conversion contracts are…
Fire Kills Five at ASL Marine's Batam Shipyard
The vessel owner-operator and shipbuilder ASL Marine Holdings said that a fire occurred in its shipyard in Batam, Indonesia. ASL press release that initial investigations showed the incident occurred on board a tanker that was being repaired at one of its dry docks. The fire likely started inside and was confined to the pump room, the company added in its statement. Whilst this may restrict damage and deaths, nevertheless five people died and one person is injured, they were employees of our subcontractor. Initial investigations suggest that there was no explosion.
ASL Marine Group Buys Out Vosta & CFT
Vosta LMG Group of Companies & CFT International acquired by ASL Marine Group subsidiary Leo Dynamische Investering BV. Vosta LMG’s business is complementary to the Group’s current business segments of shipbuilding, ship repair and conversion and ship chartering. Apart from synergies to be derived on many aspects of the operations and increasing the scope of services to include design and engineering, the Group is also able to strengthen their geographical presence by tapping on Vosta LMG’s existing customer base through their offices in the Netherlands…
ASL Profit Nosedives
Singapore shipbuilding group ASL Marine has posted a sharp drop in net profit for its third quarter as revenues from its shipbuilding, shiprepair and chartering segments fell across the board. Net profit for the three months to March 31 plummeted 65.7 per cent from the previous year to S$1.94 million, while revenue dived 56.2 per cent to S$63.42 million in the period. Revenue decreased 56% year-on-year to S$63.4 million due to industry downturn and construction cycle, gross profit increased 20% year-on-year to S$12.1 million for 3QFY2015 despite the fall in revenue, says a company statement.
ASL Marine's Profits Plummet
Singapore-based ASL Marine's profits for the second quarter ended 31 December 2014 dived 78.4% year-on-year to SGD1.432 million (USD1.05 million). Revenue also plunged 86% year-on-year to SGD47.44m due mainly to a revenue reversal of SGD95m recognized in the previous financial years, following the rescission of two OSV shipbuilding contracts in December 2014. The company says its first half earnings slashed on account of the difficult market conditions in the offshore sector due to the sharp decline in oil prices.
ASL Marine Buys Next-Door Indonesian Shipyard
Headquartered in Singapore, ASL own four shipyards in Singapore, Indonesia (Batam) and China (Guangdong). They inform they have conditionally agreed to purchase for US$20-million a shipyard belonging to Miclyn Express Offshore Limited (MEO), located adjacent to its own yard in Batam, Indonesia. The Batam shipyard is situated in a free trade zone with industrial areas designated specifically for shipyards with infrastructure such as roads, telecommunications, utilities and supporting services.
ASL to Build Six Offshore Service Vessels
Singapore-based ASL Marine Holdings Ltd. say that its wholly-owned subsidiary, ASL Shipyard Pte Ltd (“ASLS”), has secured new shipbuilding contracts worth approximately S$97-million for the construction of six vessels. • Four Anchor Handling Tug/ Multi-Purpose Supply Vessels. The vessels have been ordered by customers in Europe and Singapore and will be built iunder the supervision of classification societies LR and ABS respectively. The two Emergency Response and Rescue Vessels (ERRV) will be constructed at the Group’s shipyard in Singapore, and are scheduled for delivery in 2015.
Kooren Orders Two Tugboats
Kooren Shipbuilding & Trading in Rotterdam has ordered two tug boats with the ASL shipyard in Singapore, with an option on another two. These 63 tons b.p. Rotortugs are developed by Kooren itself, 30 meters long and to be delivered in April 2005.
ASL Marine Gowing Strong
If there is a slowing in the marine industries no one told the people at ASL Marine in Singapore. Among other projects the shipyard is building a series of Roto Tugs, a series of large PSVs and a 196.8-ft dive support vessel. In November ASL was nearing completion of another in their series of diesel-electric emergency vessels for the Danish firm Esvagt. These red boats are equipped with five Cummins KTA19D powered 485 kW generators. This series of vessels carry C-names. Earlier vessels included the Esvagt Carina, Cassipeta, Carpathia, Champion, Caroline, Contender, Cobra and Castor.
RotorTug RT Ambition Arrives in Bremerhaven
On November 16 KOTUG´s new build RotorTug RT Ambition arrived in Bremerhaven. The tug left ASL Singapore Shipyard on September 22, 2012 and sailed under own power. RT Ambition measures 32 x 12 m, with a installed power totaling 6,456 BHP and a bollard pull of 84 tons. Due to its three propulsion units, which independently can be turned 360 degrees, the Rotortug has an unique maneuverability. RT Ambition is the 11th RotorTug of a series of 14 sister vessels. They are built at Niigata…
Singapore's ASL Marine Holdings Reports Increased 2012 Revenue
Total revenue for the Singapore-based group increased by 7.7% year-on-year to $391.2-million in financial year ended 30, June 2012. ASL Marine Holdings Ltd. is a vertically-integrated marine services group principally engaged in shipbuilding, shiprepair and conversion, shipchartering and other marine related services, catering to customers mainly from Asia Pacific, South Asia, Europe, Australia and the Middle East. According to Ang Kok Tian, Chairman and Managing Director, “...we managed to post a decent set of results on the back of robust shipbuilding operations, a resilient chartering business and increased orders for the shiprepair and conversion segment from the buoyant offshore oil and gas sector.
KOTUG Christens its Latest Vessel
International maritime service provider KOTUG celebrated the christening ceremony of one of the latest generation RotorTugs during their traditional Herring Party in Bremerhaven, Germany on June 13, 2013. RT Ambition has a length of 32m, a width of 12m, 6.456 BHP and a bollard pull of 84 tons. RT Ambition is the 11th RotorTug, built at ASL Shipyard Singapore, of a series of 14 sister vessels. The sisters are built at Niigata Shipyards Japan and ASL Shipyard Singapore and are a part of KOTUG´s comprehensive fleet expanding and renewal program.
Teras Sunrise Passes Jacking Trials
Teras Offshore, along with Global Maritime and ASL Shipyard in Batam, Indonesia announced the completion of full height jacking trials of the Teras Sunrise. The trials were completed on February 7 and mark another successful milestone in the Teras Sunrise reactivation project. The Teras Sunrise is the second "Service Jack" design developed by Global Maritime. The vessel is a jack-up construction vessel with a payload of up to 7,200 metric tons, outfitted with four jack-up legs for jacking operations in the North Sea in up to 80m water depth.