Keppel Makes First LNG Cargo Import from N. America
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 its gas supply portfolio beyond Southeast Asia.The LNG cargo reached Singapore on 10 April 2019 and will be regasified as feedstock for downstream customers and end users…
Keppel, Golar to Build FLNG Facility
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…
More Charges Against Shell Singapore Theft Suspects
Total number of people arrested in the case rises to 20; thefts are alleged to have been going on for months. A Singapore court on Monday filed additional charges against nine men accused in a large-scale oil theft at Shell's biggest refinery, the latest development in an extensive investigation in the city-state. The nine Singaporean men, eight of whom were employees of the Singapore subsidiary of Royal Dutch Shell Plc, faced initial charges in court last week alongside two Vietnamese nationals, who are due at court on Tuesday. At least one additional charge was brought against each of the Singaporean men on Monday, court documents showed.
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…
Keppel FELS Resells Jackup Rig
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, among others, KFELS has today…
Keppel Bags BRL 500 mln MODEC Project
Keppel Offshore & Marine Ltd (Keppel O&M), through its subsidiary, Keppel FELS Brasil SA's BrasFELS shipyard has been awarded a Floating Production Storage and Offloading (FPSO) module fabrication and integration project by its repeat customer MODEC Offshore Production Systems (Singapore) Pte. Ltd., a MODEC, Inc. group (MODEC) company, for a contract value of over BRL 500 million (SGD190 million). BrasFELS' work scope for this project comprises the fabrication and integration of nine topside production modules for the FPSO Cidade de Campos dos Goytacazes MV29.
Keppel hands over Bialystok Plant in Poland
Keppel Seghers Belgium NV (Keppel Seghers), a wholly-owned subsidiary of Keppel Infrastructure Holdings Pte Ltd (Keppel Infrastructure), has handed over the Bialystok waste-to-energy combined heat and power (WTE CHP) project in Poland to the client on 31 December 2015. The project was delivered on schedule and on budget. Keppel Seghers was part of a consortium, including Budimex S.A, one of Poland's largest construction companies, and Spanish waste management company Cespa Compania Espanola de Servicios Publicos Auxiliares S.A…
Singapore's Keppel Corp Q3 Drops 12 pct
Singaporean conglomerate Keppel Corporation Ltd said third-quarter net profit fell 12 percent from a year earlier, weighed down by the weak performance in its offshore and marine business. Keppel, one of the world's top offshore drilling rig builders, reported on Thursday a net profit of S$363 million ($261 million) for the three months ended Sept 30 on revenue of S$2.4 billion, down 23 percent from a year earlier. (Reporting by Rujun Shen)
Keppel Secures $85 mln Liftboat Order
Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has secured a contract from Crystal Heights Holdings Limited, a company specializing in the offshore oil and gas market, to build a high specification liftboat worth $85 million. The liftboat is designed by Keppel O&M's liftboat design specialist, Bennett Offshore in collaboration with Keppel FELS. Scheduled for delivery in 4Q 2017, the liftboat will have provisions enabling it to operate in China, the Middle East and the Gulf of Mexico.
Keppel Bags Another Liftboat Order
Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has secured a contract from Crystal Heights Holdings Limited (Crystal Heights), a company specialised in the offshore oil and gas market, to build a high specification liftboat worth US$85 million. The liftboat is designed by Keppel O&M's liftboat design specialist, Bennett Offshore in collaboration with Keppel FELS. Scheduled for delivery in 4Q 2017, the liftboat will have provisions enabling it to operate in China, the Middle East and the Gulf of Mexico.
Ocean Mineral Singapore Contract for Seabed Exploration
Ocean Mineral Singapore Pte Ltd (OMS) has entered into a 15-year exploration contract for polymetallic nodules at a site within the Clarion-Clipperton Fracture Zone of the Pacific Ocean with the International Seabed Authority (ISA). Sponsored by the Singapore Government, OMS is the first Singaporean company to be awarded an exploration contract for polymetallic nodules. The contract signing ceremony took place between Mr Nii Allotey Odunton, Secretary-General of the ISA and Mr Ong Ye Kung, Director of OMS, and was witnessed by Guest-of-Honour…
Sembcorp Marine Q1 Profit Down, Challenges Coming
Brazil's oil and gas industry mired in uncertainty. Singapore-based rig builder Sembcorp Marine posted its lowest quarterly net profit in at least five years and forecast a challenging year ahead, as new rig orders dry up on weak oil prices and as a corruption scandal in Brazil brings uncertainty. Sembcorp Marine said on Monday its first-quarter net profit dropped 13.6 percent on the year to S$105.9 million ($79.5 million), hit by lower contribution from rig building and repair work. Sembcorp Marine, one of the world's top two offshore jackup rig builders alongside cross-town rival Keppel Corporation Ltd…
Keppel Post 1Q 2015 Results
The Directors of Keppel Corporation Limited have reported the following unaudited results of the Group for the first quarter ended 31 March 2015. 1. Net Profit up 6% to S$360 million, compared to 1Q 2014's S$339 million. 2. Earnings per Share was 19.8 cents, up 6% from 1Q 2014's 18.7 cents. 3. Annualised Return on Equity was 12.9%. 4. Economic Value Added decreased from S$186 million to S$103 million. 5. Free cash inflow of S$226 million. 6. Net gearing was 0.37x. Since the precipitous fall in oil prices last June, the price of Brent crude has rebounded from the mid US$40 a barrel range to an average of US$56 a barrel in March 2015.
Keppel Appoints Vestring to its Board
Mr Vestring, 50, is a partner in Bain & Company's (Bain) Southeast Asia office. Of his 24-year career with Bain, Mr Vestring has spent over two decades in Asia advising leading companies on portfolio strategy, growth, mergers and acquisitions, merger integration, organisation and performance improvement. The companies he has advised include those in shipping, offshore & marine, industrial products, automotive, infrastructure, commodities, airlines and telecoms. Mr Vestring works closely with Asian and multinational companies to grow organically and inorganically across Asia.
Keppel Singmarine Win S$65 mi Contracts
Specialised shipbuilder Keppel Singmarine Pte Ltd (Keppel Singmarine), a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has secured two contracts worth a total of about S$65 million. The first contract was awarded by Seaways International Pte. Ltd. (Seaways) to build a multi-task Anchor Handling Tug (AHT) vessel suitable for an array of offshore activities. Designed by Robert Allan and belonging to the Rampage Series, the AHT vessel will have a designed bollard pull of 100 tonnes, and be equipped with Class 1 and 2 fire-fighting capabilities…
Keppel Wins Second FLNG Conversion Contract
Keppel Shipyard has secured a firm contract from Golar Gimi Corporation (Golar Gimi), a subsidiary of Golar LNG Limited (Golar LNG), to perform the conversion of a second Moss Liquefied Natural Gas (LNG) carrier, the GIMI, into a Floating Liquefaction Vessel (FLNGV). The contract, which has become effective, is worth approximately $705 million. Michael Chia, Managing Director (Marine & Technology), Keppel O&M, said, "We are happy that Golar LNG is proceeding with their second FLNGV conversion, and would like to thank them for once again entrusting Keppel Shipyard as their lead contractor of choice.
Keppel to build Rigs for US$100 mi
Keppel AmFELS LLC, a US-based wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has won a contract valued at over US$100 million to build one of the world's largest land drilling rigs for a major operator. Scheduled for delivery in mid-2016, Keppel AmFELS will be undertaking the engineering, procurement and construction of the rig. The rig will be capable of operating in harsh conditions. Backed by comprehensive facilities and a highly-capable workforce, Keppel AmFELS has built up a strong track record in the construction, refurbishment, conversion, life extension and repair of a variety of drilling rigs.
Keppel Listed on Global Sustainability Indices
Driven by a firm commitment to continuously strengthen its environmental, social and governance (ESG) management and strategy, Keppel Corporation's sustainability efforts have gained momentum, affirmed by inclusion on several global sustainability benchmarks in recent months. Keppel Corporation has been included on the latest Euronext Vigeo World 120 index released 28 November 2014. The company has been listed among the top 120 companies in Europe, North America and Asia Pacific for control of corporate responsibility risk and contribution to sustainable development.
51% Stakes of Keppel Merlimau Cogen Sold for $510 mi
Keppel Infrastructure Holdings Pte Ltd (KI), through its wholly-owned subsidiary, has agreed to sell 51% stake of Keppel Merlimau Cogen Pte Ltd (KMC), which owns Keppel Merlimau Cogen Plant to Keppel Infrastructure Trust (KIT or the Trust) for a cash consideration of $510 million (KMC Transaction). The agreement was signed with Keppel Infrastructure Fund Management Pte Ltd (KIFM), in its capacity as trustee-manager of KIT. Located on Jurong Island, Singapore, Keppel Merlimau Cogen Plant is a 1,300 MW combined cycle gas turbine…
Keppel Infrastructure Sheds Facilities Arm
Keppel Infrastructure Holdings Pte Ltd (KI), through its wholly-owned subsidiary, has signed an agreement for the sale of its entire stake in Keppel FMO (KFMO) to Cofely GDF SUEZ for a cash consideration of S$44.72 million, subject to a post-closing adjustment for working capital and a deferred consideration amount of up to S$9.72 million. KFMO provides integrated facilities management services for clients across various industries and business segments in both the public and private sectors. The purchaser, Cofely South East Asia Pte. Ltd. is a subsidiary of the GDF SUEZ Group.
