Keppel Corporation News

21 Oct 2019

Singapore: LNG Terminal to Develop Data Center

A five-member team from NUS Engineering, Keppel Data Centres and SLNG will jointly develop a prototype to demonstrate the novel, energy-efficient and cost-effective cooling technology for data centres. Photo:  National University of Singapore

The National University of Singapore's Faculty of Engineering (NUS), Singapore LNG Corporation (SLNG) and Keppel Data Centers Holdings join forces to develop new energy-efficient cooling technology for data centers.This innovation could further pave the way for more sustainable and compact data centers, said Singaporean conglomerate Keppel Corporation.With the rapid expansion of cloud-based services, AI, the Internet of Things and big data analytics, there has been an exponential demand across the globe for data centers in recent years.

08 May 2019

Keppel-Aibel Team Wins German Offshore Gig

Image: Aibel

Norwegian energy services provider Aibel AS and a unit of Singaporean conglomerate Keppel Corporation have jointly won a contract to deliver two converter stations as part of the DolWin cluster servicing German offshore wind farms.The grid operator TenneT Offshore has tasked Aibel and Keppel O&M, a unit of Keppel Corp, with the design, engineering, procurement, construction, installation and commissioning of a 900-MW offshore High Voltage Direct Current (HVDC) converter station…

18 Apr 2019

Keppel Posts Lower Profits

Pic: Keppel Corporation

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…

16 Apr 2019

Keppel to Start Work on Golar's FLNG vessel

Pic: Golar LNG

Keppel Shipyard Ltd (Keppel Shipyard), has received the Final Notice to Proceed (FNTP) from Gimi MS Corporation, a subsidiary of Golar LNG Limited, to commence full conversion works for the Gimi Floating Liquefaction Vessel (FLNG) project.The wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M) said in a press release that  the total contract is worth US$947million and builds on the issuance of the Limited Notice to Proceed (LNTP) on 17 December 2018.Keppel Shipyard's…

14 Apr 2019

Keppel Makes First LNG Cargo Import from N. America

Pic: Keppel Corporation

Singapore's Keppel Gas, a wholly owned subsidiary of Keppel Infrastructure Holdings, has completed its first liquefied natural gas (LNG) cargo import under Singapore's spot import policy.The policy allows gas customers in the Republic to import up to 10 per cent of their annual long-term contracted LNG intake on a spot cargo basis.The spot cargo of 160,000m3 of LNG originated from an LNG liquefaction project in North America, marking the first time that Keppel Gas has diversified…

10 Apr 2019

Singapore Launches Autonomous Tug Project

Image: Keppel O&M

Singapore yard Keppel Offshore & Marine (Keppel O&M) said that its wholly-owned subsidiary Keppel Singmarine will develop an autonomous tug that will be operated by Keppel Smit Towage.The tug is expected to be one of Singapore’s first autonomous vessels when the project is completed in 4Q 2020.To develop the autonomous tug, Keppel O&M has secured a grant of up to S$2 million from the Maritime and Port Authority of Singapore (MPA) under its Maritime Innovation and Technology Fund (MINT FUND).This follows the Memorandum of Understanding signed by Keppel O&M…

02 Apr 2019

Keppel Acquires $50m Stake Battery Biz

Keppel Corporation Limited, through its wholly owned subsidiary KepVenture Pte Ltd (Keppel), has entered into an agreement with Envision AESC to invest $50 million for a minority stake in Envision AESC Group Ltd, a leading intelligent lithium-ion battery company. This co-investment with Envision is in line with Keppel's efforts to deploy innovative concepts in its solutions for sustainable urbanization.Envision AESC Group Ltd recently completed the acquisition of Automotive Energy Supply Corporation (AESC), a former venture between Nissan Motor Company (Nissan) and the NEC Group. It has also acquired the entire share capital of NEC Energy Devices, Ltd., a battery electrode manufacturing company owned by NEC Corporation.

27 Feb 2019

Keppel, Golar to Build FLNG Facility

Image: Keppel Corporation

Keppel Corporation will partner liquefied natural gas (LNG) shipping company Golar LNG  to develop a floating LNG facility (FLNG) facility to be located on the Mauritania and Senegal maritime border.Keppel will partner Golar by subscribing for 30 per cent in Gimi MS Corporation, through Keppel's indirect wholly owned subsidiary First FLNG Holdings (FFH). The remaining 70 per cent in Gimi MS Corporation will be subscribed by Golar.Gimi MS will build and operate the facility, said the company.Keppel and Golar have previously partnered on the FLNG Hilli Episeyo…

09 Nov 2018

Keppel Secures S$30M Production Barge Upgrade Contract

Keppel Corporation, through its subsidiary unit, has secured a production barge upgrade contract. total value of the deal is said to be S$30M.When completed in or around Q3 2019, the production barge will be capable of processing up to 30,000 barrels of fluid per day.source: Reuters.

07 Oct 2018

Keppel O&M Bags Stolt-Nielsen Order for Two More LNG Carriers

Pic: Keppel Offshore & Marine

Keppel Singmarine has signed two additional contracts with Stolt-Nielsen Gas B.V. (Stolt-Nielsen Gas) following the exercise by Stolt-Nielsen Gas of its options to build two additional small-scale LNG carriers worth a total of around S$105 million (USD 75.9mln).Keppel Singmarine is a wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M).Three options were granted to Stolt-Nielsen Gas as part of the original contract signed in May 2017 between Keppel Singmarine and Stolt-Nielsen Gas to build two LNG carriers.

05 Jun 2018

Keppel to Build South East Asia’s First LNG Bunkering Vessel

Photo: Keppel Corporation

Keppel Offshore & Marine Ltd (Keppel O&M) through its wholly-owned subsidiary, Keppel Singmarine Pte Ltd, has secured a contract from FueLNG, a joint venture between Keppel O&M and Shell Eastern Petroleum (Pte) Ltd, to build South East Asia's first Liquefied Natural Gas (LNG) bunkering vessel valued at approximately S$50 million. Scheduled for completion in 3Q 2020, the dual-fuel LNG bunkering vessel will have a capacity of 7,500 cubic metres. FueLNG will receive a grant of up to S$3 million as part of the Maritime and Port Authority of Singapore's (MPA) LNG Bunkering Pilot Programme (LBPP).

21 Jan 2018

Keppel Explores Sale of Jack-up Rigs to Borr Drilling

Photo: Keppel Corporation Limited

Singapore yard Keppel Corporation is considering a sale of jack-up rigs to Norwegian offshore drilling contractor Borr Drilling, reports The Business Times. The world’s biggest builder of oil rigs is seeking to offload six jack-up rigs for up to US$960 million to the Oslo-listed drilling firm headed by Tor Olav Trøim, said the report. BT also reported that Keppel Capital has already hooked up with structured finance provider Clifford Capital to potentially extend a sale-and-lease-back arrangement for at least one jack-up contracted by Grupo R.

09 Jan 2018

Oil Heist Uncovered at Shell's Biggest Refinery

File Image (CREDIT: AdobeStock / (c) Leeylutung)

Police say 17 arrested in connection with oil theft; 11 charged; Shell expects "short delay" in operations due to case. Eleven men were charged in a Singapore court on Tuesday in connection with a large-scale oil theft at Shell's biggest refinery, while police said they were investigating six other men arrested in a weekend raid. Police in the island-state said on Tuesday they had detained 17 men, whose ages ranged from 30 to 63, and seized millions of dollars in cash and a small tanker during their investigations into theft at the Pulau Bukom industrial site…

24 Dec 2017

Keppel O&M to Pay US$422m to Resolve Petrobras Issue

Keppel FELS Brasil. Photo: Keppel Offshore & Marine

Keppel Corporation Limited (Keppel Corporation or Keppel) today confirmed that KOM has reached a global resolution with criminal authorities in the United States, Brazil and Singapore in relation to corrupt payments made by KOM's former agent in Brazil,  Zwi Skornicki. As part of the global resolution, KOM has accepted a conditional warning from the Corrupt Practices Investigation Bureau (CPIB) in Singapore, and entered into a Deferred Prosecution Agreement (DPA) with the U.S.

11 Dec 2017

Keppel Secures $130 mln in Projects

Keppel Offshore & Marine (Keppel O&M) has, through its wholly-owned subsidiaries, Keppel FELS Brasil S.A. and Keppel Shipyard Ltd (Keppel Shipyard), secured projects from repeat customers, Petrobras and SOFEC Inc. (SOFEC) respectively, worth a combined value of approximately S$130 million. Keppel FELS Brasil's BrasFELS shipyard has secured hull carry over work for the Floating Production Storage and Offloading (FPSO) unit P-69 from Tupi BV (a consortium formed by Petrobras Netherlands B.V., operator with 65%; Shell with 25%; and Petrogal Brasil with 10%), which is represented by Petrobras. The additional work scope on P-69 includes the installation of equipment and cables for the hull as well as the commissioning of marine systems.

24 Aug 2017

Keppel AmFELS to Build Two LNG Fueled Containerships

Image: Keppel Offshore & Marine

Keppel AmFELS, a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M) in the United States (US), has secured a contract worth more than US$400m from Honolulu-based Pasha Hawaii for the construction of two Liquefied Natural Gas (LNG) fueled containerships. The dual fuel LNG vessels will be built to Keppel's proprietary design with delivery of the first vessel expected in 1Q 2020, and the second vessel in 3Q 2020. Simon Lee, President of Keppel AmFELS said, "We are pleased that Pasha has chosen us to build their first two LNG fueled containerships to our innovative design.

24 Jul 2017

Keppel, Sembcorp Merger on the Cards ?

Photo: Sembcorp Industries

A merger between two of the Singapore’s largest offshore rig builders, Keppel Offshore & Marine and Sembcorp Marine, might be on the cards, report local media quoting the Development Bank of Singapore (DBS). DBS said that with orders at a trough and expectations for only a modest recovery, a merger of Singapore's two major rigbuilders could create a global giant that is more competitive and resilient. “A merger could make sense to further streamline their operations, achieve cost synergies and eliminate competition in the medium term,” DBS said.

28 Jun 2017

Keppel Bags $85 Mln Conversion and Repair Projects

Keppel Offshore & Marine Ltd (Keppel O&M) has through its wholly owned subsidiary, Keppel Shipyard Ltd (Keppel Shipyard), won four contracts worth a total of $85 million for the conversion, repair and modification of vessels. The first contract is from Dixstone Holdings Ltd, for the conversion of the M/T Tempera into an FPSO. Keppel Shipyard's job scope includes the installation of topside process skids as well as a new accommodation module, amongst others. Work is expected to commence in 3Q 2017 and upon its expected delivery in 3Q 2018, the FPSO will be deployed to the Yombo field operated by Perenco off the Republic of Congo, Africa. It will replace the FPSO Conkouati which has served the field for more than 25 years and was also converted by Keppel Shipyard in 1991.

20 Mar 2017

Borr Drilling Scoops up Transocean Rigs for $1.4 Bln

Borr Drilling, founded by former executives of financially troubled Seadrill, has snapped up Transocean's fleet of shallow-water drilling rigs for $1.35 billion. The rig market deal is Borr's biggest since it was set up last year by Tor Olav Troeim and other executives who had left Seadrill, once the jewel in the crown of Norwegian-born shipping tycoon John Fredriksen but now battling with $14 billion in debt and liabilities. After years at Fredriksen's side, Troeim split with him in 2014. Since then Troeim has re-established himself as an independent player in the global shipping market with a high profile and a reputation for successful capital raising. Transocean, executives at Borr Drilling and Troeim were not immediately available for comment.

02 Jan 2017

Keppel FELS Resells Jackup Rig

Photo Keppel Offshore & Marine

Keppel Corporation Limited (the “Company” or “KCL”) refers to its announcement on 2 August 2013 on the construction contract ("Construction Contract") entered between Keppel FELS Limited (“KFELS”), a wholly-owned subsidiary of Keppel Offshore & Marine Limited (“KOM”), and Parden Holding S.R.L. (“Parden”) for the construction of a KFELS B Class jackup rig (the “Jackup Rig”). Following Parden’s failure to take delivery of the Jackup Rig and make payment for the balance 80% of the contract value…

27 Aug 2016

NParks, Keppel in S$2.08 mln Partnership for Restoring Singapore Forest Wetlands

Singapore Botanic Gardens

The National Parks Board (NParks) and Keppel Corporation today unveiled plans for a partnership to restore the freshwater forest wetland ecosystem historically found in the vicinity of the Singapore Botanic Gardens. Located in the upcoming Learning Forest extension, the restored 1.8 hectare forest wetland will enhance the biodiversity found there, and for the very first time, provide educational opportunities for the public to access and experience a freshwater forest wetland habitat, right in the heart of the city.

20 Jul 2016

Three Keppel Dredgers for Jan De Nul

Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Singmarine Pte Ltd (Keppel Singmarine) has secured contracts from Jan De Nul Group to build three Trailing Suction Hopper Dredgers (TSHDs). The TSHDs are worth about S$100 million in total. The first two dredgers are expected to be completed in 2H 2018 while construction of the third dredger will require a notice within six months from Jan De Nul to exercise the option for the dredger. To be built to Jan De Nul's design, the dredgers will be able to dredge to a maximum depth of 27.6m, and have a hopper capacity of 3,500 m3. The two dredgers will be built to the requirements of classification society, Bureau Veritas, in Keppel Nantong Shipyard, a subsidiary of Keppel O&M.

07 Jul 2016

Keppel Secures Marine Projects worth S$120 mln

Photo Courtesy BW Offshore

Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) has secured four contracts worth a total of about S$120 million from repeat customers. Mr Michael Chia, Managing Director (Marine & Technology) of Keppel O&M, said, "We are pleased to secure new orders from long-time customers who continue to entrust their projects with us, whether it is for turret fabrication or vessel upgrades. The first contract that Keppel Shipyard secured is from BW Catcher Limited…

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