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Lamprell Plc News

04 Jun 2021

AVEVA, IMI Extend Collaboration

AVEVA and  International Maritime Industries (IMI) extended their existing long-term collaboration with a new strategic partnership, a partnership designed to advance IMI’s engineering solutions to include production and manufacturing processes for the maritime sector in the Middle East and Africa (MEA).The new a joint venture involves Saudi Aramco, Lamprell Plc, Bahri and Hyundai Heavy Industries and spans a 10-year period, to optimize digitalization across the maritime lifecycle using AVEVA Unified Engineering and AVEVA Digital Ship and Shipyard Operations.Set to be fully operational by 2023, IMI is driving an accelerated and advanced digital program to ensure it is able to commence yard operations using the most advanced technology innovations.

16 Mar 2018

Construction Begins on Saudi Aramco's Shipyard Joint Venture

Construction work has begun on a joint venture to build a shipyard on Saudi Arabia's eastern coast, oil rig builder Lamprell Plc said in a statement on Friday. The joint venture, International Maritime Industries (IMI), started operations after reaching agreement for a loan from the state-backed Saudi Industrial Development Fund (SIDF), the statement said. The SIDF agreed in principle last year to provide 3.75 billion riyals ($1 billion) in financing for the project. IMI is a partnership between United Arab Emirates-based Lamprell, state oil giant Saudi Aramco, National Shipping Co of Saudi Arabia (Bahri) and South Korea's Hyundai Heavy Industries Co.

02 Jan 2018

Saudi Aramco Shipyard Joint Venture Appoints CEO

(Photo: Saudi Aramco)

Saudi Aramco and its partners have appointed Fathi K. Al-Saleem as chief executive of a joint venture to build a shipyard on the kingdom’s east coast, part of the Saudi Arabian government’s drive to diversify the economy beyond oil. The state-owned oil giant said in a statement on Friday that International Maritime Industries (IMI) had been officially launched in partnership with National Shipping Co of Saudi Arabia (Bahri), engineering firm Lamprell Plc, and South Korea’s Hyundai Heavy Industries Co.

22 Sep 2017

Lamprell's Revenue Falls 65 pct, Cuts FY Forecast

Oil rig builder Lamprell Plc reported a 64.7 percent fall in revenue in the first half of the year and cut its full-year forecast, hurt by lower activity levels across the industry.   The company said it expected revenue for 2017 to be in the range of $370 million to $390 million, as it saw continuing low levels of walk-in work. Lamprell had forecast full-year revenue to be in the lower half of the $400 million-$500 million range in March.   Lamprell, which runs three rig building yards in the UAE, said revenue fell to $159.2 million in the six months ended June 30 from $451.3 million a year ago.   Reporting by Arathy S Nair

31 May 2017

Saudi Aramco Inks Deals to Build Gulf's Biggest Shipyard

Bahri, Lamprell, Hyundai Heavy are partners and will build VLCC's starting in 2019. Saudi Aramco plans to build the Gulf's largest shipyard through a joint venture with three companies that it announced on Wednesday, a $5.2 billion project aimed at helping reduce the economy's reliance on oil. Low oil prices have drastically slowed Saudi Arabia's economy so it is trying to create manufacturing jobs and produce goods and services which traditionally it has imported. Its strategy is to use large amounts of government money and the procurement budgets of big state-run enterprises, such as national oil firm Aramco, to attract foreign expertise to develop strategic industries.

12 Jan 2015

Lamprell Issues Pre-close Trading Update

Photo courtesy of Lamprell

Lamprell published a trading update ahead of its results for the year ending December 31, 2014, stating it has delivered a robust operational and financial performance in 2014 as a result of strong project execution, favorable phasing of rig construction cycles and some one-off elements. The group reports it has seen a strong rate of conversion of its bid pipeline with six new build jackup rig orders won and several smaller awards signed recently. In the second half of the year, Lamprell commenced construction for four new build jackup rigs, two for Ensco rigs and two for Shelf Drilling.

27 May 2014

Shelf Drilling Sings 5-Yr Contract For 2 Newbuild Jackups

Shelf Drilling, Ltd. today announces that one of its subsidiaries has been awarded contracts for two newbuild jackup rigs by Chevron Thailand, a subsidiary of Chevron Corporation (NYSE : CVX). The two drilling contracts are for a five-year term each and the newbuild rigs are scheduled to commence operations offshore Thailand during the first and third quarter of 2017 respectively. The estimated revenues which could be generated over the five-year contract term are approximately USD 281 million for each rig, excluding revenues for mobilization, demobilization and miscellaneous adjustments. In connection with the contracts, Shelf Drilling will commission two fit-for-purpose newbuild jackup rigs based on the MLT Super 116 E design. A subsidiary of Shelf Drilling, Ltd.

20 Nov 2008

ABS Council Adds Members

At the recent ABS Council meeting, 31 prominent members of the shipping and offshore industries were elected as new members of the prominent international classification society. The ABS Council also elected seven new members to the society’s Technical Committee. “Our strength as a classification society is the breadth of experience and depth of wisdom of our membership,” said ABS Chairman & CEO Robert D. Somerville. Zamil A. Thomas J. Angiolino, Senior Vice President, Willis of New York, Inc. Commodore R. Balasubrmaniam, IN (Retd.), Director, Rajapur Shipyard Pvt. Ltd. Dong-Su Choi, President & CEO, SLS Shipbuilding Co., Ltd. Robert G. George A. Cupstid, Senior Vice President and General Manager, LeTourneau Technologies, Inc. Tim E. Steven Durrell, President, Irving Shipbuilding Inc.

27 Mar 2007

SES Signed Contracts for delivery of Electrical and Automation Systems

Bergen, Norway based Scandinavian Electric Systems(SES) has secured orders worth around NOK 350 million for delivery of complete Diesel-Electric propulsion and Automation systems for two plus option for three Jackup Vessels with Lamprell plc in Dubai. The Shipowner is Seajacks International Ltd.. The contract for the two first vessels of NOK 140 million are fixed and firm with optional contracts for the three next vessels worth approx. NOK 210 million. The contracts is a result of excellent marketing and sales work from our service partner Goltens in Dubai and our own sales team, says VP Sales and Marketing Harald Rostbo. The order comprises design…