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NEWS

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Swissco lands US$28.5m offer for offshore support vessel business

Singapore

THE court-appointed judicial managers (JMs) of Swissco Holdings have secured an offer valued at US$28.5 million from a white knight investor for the offshore support vessel (OSV) business of the beleaguered Singapore-listed offshore and marine (O&M) group.

The deal with the said investor, Asian Strategic Turnaround Ventures Pte Ltd, is the first of its kind tabled for an ...more

SembMarine inks LOI with US firm to deliver S'pore's first CGL carriers

Singapore

A SUBSIDIARY of yard group Sembcorp Marine (SembMarine) has signed a letter of intent (LOI) with Houston-based SeaOne Caribbean LLC that may mark the design and construction of the first pair of compressed gas liquid (CGL) carriers in Singapore.

SembMarine said the LOI penned by its specialised shipbuilding unit will cover at least two large CGL carriers earmarked for SeaOne's ...more

Keppel's US unit lands US$400m contract to build LNG vessels

Singapore

KEPPEL Corp's wholly owned offshore and marine unit has clinched a contract worth more than US$400 million from a Honolulu-based ocean shipping firm to build two liquefied natural gas (LNG) vessels.

Under the contract for the dual-fuel LNG vessels, secured by Keppel Offshore & Marine's wholly owned subsidiary Keppel AmFELS from Pasha Hawaii, one vessel is expected to be ...more

Premature to bet on a merger of Singapore's leading yard groups

A BROKER report reviving the merger talk between Singapore's two large yard groups has triggered spikes in trading volumes mainly for Keppel Corporation and the listed marine arm of Sembcorp Industries.

DBS Vickers suggested in a research note on Thursday last week that the possibility of a merger and acquisition between the marine arms of Keppel Corp and Sembcorp Industries has resurfaced, ...more

Making waves in the O&M industry

THE dip in global trade since 2008 and the decline in demand for freight spelled trouble for the shipping and marine industry. Several firms have succumbed to the economic uncertainties including South Korea's Hanjin Shipping and more recently, Germany's Rickmers Group.

Despite the tumult, AMOS International has managed to stay afloat and has recorded remarkable achievements within a short ...more

Keppel O&M to deliver world's first converted FLNGV

Singapore

SINGAPORE'S leading yard group Keppel Offshore & Marine (O&M) is on track to deliver the world's first converted floating liquefaction vessel (FLNGV) to Golar Hilli Corporation, a subsidiary of Golar LNG.

The vessel, named Hilli Episeyo at a ceremony on Sunday, is scheduled to be delivered to Golar Hilli Corp in August. Keppel Shipyard was awarded the US$735 million contract ...more

Oil industry needs to harness new tech to meet growing demand in Asia: BP CEO

Singapore

WHILE energy demand is slowing due to improving energy efficiency, it will still grow by 30 per cent over the next two decades, with almost all of that coming from emerging economies, especially Asia.

This means that the oil and gas industry needs to produce hydrocarbons that are cleaner and at lower cost, and by harnessing the current wave of technological advances to do ...more

Keppel secures four vessel conversion and repair projects worth S$85m

Singapore

KEPPEL Shipyard, a unit of Keppel Corporation, has won four contracts totalling S$85 million for the conversion, repair and modification of vessels. They will be progressively completed from the third quarter of this year until the third quarter of 2018.

The first contract is from Dixstone Holdings Ltd for the conversion of the M/T Tempera to an FPSO (floating, production, ...more

Fewer losses in shipping industry but challenges remain

MARINE insurers have as good a perspective as any on the health of the shipping industry, for the very good reason that they have to pay up when things go wrong.

So it is worth paying attention when major insurer Allianz says that, while shipping losses continue to decline, a "perfect storm" of regulation, cost savings and cybersecurity looms.

The Allianz Safety & Shipping Review ...more

Strong leaders may tip scales in this O&M downturn

THESE days, it does not take a lot to trigger market talk of a merger between Singapore's two leading yard groups.

Sembcorp Industries president and chief executive Neil McGregor's comment about the group undertaking a strategic review sent the stock of Sembcorp Marine soaring on revived speculation of a merger with Keppel Offshore & Marine that was ditched in the early noughties.

Truth ...more

Pacific Radiance receives S$85m lifeline amid prolonged downturn

Singapore

OFFSHORE marine support services company Pacific Radiance has received S$85 million in loans under two Singapore government-backed financing schemes to help it tide over the prolonged marine and offshore engineering industry (M&OE) downturn.

The overdraft, disbursed under the Internationalisation Finance Scheme (IFS) by International Enterprise (IE) Singapore and the Bridging ...more

IE Singapore, Spring back S$380m lifeline to battered O&M sector

Singapore

THE Singapore government has backed about S$380 million of loans extended by banks to the beleaguered marine and offshore engineering industry (M&OE) under two schemes announced last November.

IE Singapore and Spring Singapore have approved loan applications totalling S$380 million under the two government agencies' Internationalisation Finance Scheme (IFS) and Bridging ...more

Green shipping struggles in old-fashioned industry

Singapore

THE chief executive of Helsinki-headquartered W�rtsil� Corporation, Jaakko Eskola, describes shipping as "an old-fashioned industry".

Mr Eskola is not alone in making this observation - the industry at large is widely considered to be behind the curve in keeping up with changing dynamics of the digital age.

For W�rtsil� and other technology and service providers ...more

Keppel Singmarine wins contracts for up to 2 dredgers

Singapore

A WHOLLY-OWNED subsidiary of Keppel Offshore & Marine has won contracts to build up to two dredgers priced at about S$120 million.

The contracts Keppel Singmarine Pte Ltd secured from Codralux SA are for a pair of trailing suction hopper dredgers (TSHDs). TSHDs are mainly used for dredging loose and soft soils, which can be discharged to shore for use in land reclamation.

Including ...more

Keppel AmFels set to land first LNG-fuelled box ships order

Singapore

KEPPEL Offshore & Marine (O&M) is well-placed to land its first newbuild order for liquefied natural gas (LNG)-fuelled container ships.

Keppel Corporation's O&M unit confirmed on Friday that Honolulu-based Pasha Hawaii had selected Keppel AmFels for the construction of two 2,525 TEU (20-foot equivalent units), LNG-fuelled box ships. This newbuild order comes with an option ...more
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