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IN THE NEWS

ST Marine could land first SCDF vessels contract

ST MARINE is well-placed to land the first newbuilding contract that Singapore Civil Defence Force is set to award in 2016, just over four years after SCDF assumed the fire-fighting function within Singapore's waters. The Business Times understands that the turnkey shipbuilding subsidiary of ST Technologies Engineering has emerged as the frontrunner in a tender for the construction of three new v...


SembMarine lands rest of stake in PPL Shipyard for $155m

Sembcorp Marine has landed the remaining 15 per cent stake it did not own in PPL Shipyard for US$115 million (S$155 million). The company had fought tooth and nail to get this stake in 2010, including going to the courts, after Baker Technology sold the stake to a group led by China-based rig- building rival Yangzijiang Shipbuilding for US$155 million. SembMarine claimed then that it had the rig...


China Aviation Oil's Q2 profit rises 32.8%

HIGHER trading gains, greater supply and trading volumes, as well as a jump in share of profits from associates and joint venture, helped China Aviation Oil's (CAO) second-quarter net profit soar 32.8 per cent to US$23.6 million. Earnings per share for the quarter came in at 2.74 US cents, compared with 2.07 US cents in Q2 2015. Revenue for the three months to end-June climbed 19.8 per cent year...


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