Drydocks World Creditors Approve J/V Scheme
Background: On 27 June 2012, DDW announced that it had entered into a joint venture agreement with Pacific Carriers Limited ("PCL"), a wholly-owned subsidiary of Kuok (Singapore) Limited. The SEA Group would, following completion of the transaction, be managed as a joint venture between DDW and PCL and would be called DDW-PaxOcean Asia. Pte Ltd. Completion of this transaction was conditional on, amongst other things, the Schemes being approved by the Creditors. The creditors meeting duly approved the proposed schemes, commenting Khamis Juma Buamim, Chairman of Drydocks World and Maritime World said: “I am pleased with this strong support and overwhelming commitment from our creditors to keep the company sustainable and poised for growth with all its great potentials.
Labroy Shipbuilding Purchases Autoship System
Autoship Systems Corporation (ASC) has sold CAD/CAM software to Labroy Shipbuilding and Engineering Pte Ltd (Labroy) of Singapore. transformation. First, existing software will be upgraded to present versions, and another seat of each of Autoship Pro and Autostructure will be added. The sale will also augment Labroy's software suite with three seats of Production Manager (ASC's nesting and stock management program). Lastly, to ensure that Labroy's marine engineers will enjoy the very latest in software features, the sale includes a maintenance and support package as well as a 10-day training seminar. Labroy Shipbuilding and Engineering Pte Ltd http://www.labroy.com.sg together with its wholly-owned subsidiary PT Nanindah Mutiara Shipyard…
Labroy Marine Secures Contract
Labroy Marine Ltd. announced that the company's Singapore subsidiary Labroy Shipbuilding And Engineering Pte Ltd has signed a shipbuilding contract worth $34,575,000m for the construction of one unit of 30,000 DWT self discharging cement carrier scheduled to be delivered in March 2008. This shipbuilding contract is not expected to have any material effect on the earnings per share and net tangible assets per share of Labroy Group in the current year.
Swire Pacific Offshore Selects MAN B&W
MAN B&W Diesel has been awarded the contract to supply complete twin-screw medium speed propulsion packages for six Anchor Handling Tug Supply Vessels (AHTS). The newbuildings, which will be built by Labroy Shipyard, Batam, Indonesia (Labroy Shipbuilding and Engineering Pte Ltd, Singapore) are to be operated by Swire Pacific Offshore Limited, Singapore. The first newbuilding is expected to be launched in the beginning of 2007, and the following vessels are planned to follow at two-month intervals. The 120-ton bollard pull AHTS vessels have been designed by the U.K.-based IMT Marine Consultants Ltd., with specific optimization for the worldwide operation of Swire Pacific Offshore activities.
