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Showing posts with label Keppel Corp. Show all posts
Showing posts with label Keppel Corp. Show all posts

Monday, June 13, 2011

Keppel to build new generation accommodation semi worth US$260 million for Floatel

Keppel to build new generation accommodation semi worth US$260 million for Floatel:
Key Points
  • Keppel FELS Limited (Keppel FELS) has been awarded a contract worth about US$260 million by returning customer, Floatel International Ltd (Floatel), to build a new generation accommodation semisubmersible (semi) for delivery in 1Q 2014.
  • This new rig developed by Keppel O&M’s Deepwater Technology Group, will be built to the SSAU4000NG design with Dynamic Positioning (DP) 3 capability. It marks Keppel FELS’ third accommodation semi project with Floatel, after the delivery of Floatel Reliance (SSAUTM 3600 with DP2) and Floatel Superior (DSSTM 20NS with DP3) last year.
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Saturday, June 11, 2011

Keppel wins 8th drilling tender contract from Seadrill worth US$142 million

Keppel wins 8th drilling tender contract from Seadrill worth US$142 million:
Key Points
  • Keppel FELS Limited (Keppel FELS) has been awarded a US$142 million contract by Seadrill to build a repeat semisubmersible drilling tender (SSDT) based on the KFELS SSDTTM 3600E design.
  • Scheduled for delivery in 2Q2013, this is the eighth drilling tender that Keppel will be building for Seadrill since the launch of the design in 1994.
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Monday, May 23, 2011

Keppel secures B Class jackup rig order from Dynamic Offshore Group

Keppel secures B Class jackup rig order from Dynamic Offshore Group:
Key Points
  • Keppel FELS Limited (Keppel FELS) has secured a contract with Vision Drilling Pte Ltd (Vision Drilling), a wholly-owned subsidiary of Dynamic Offshore Drilling Limited (Dynamic Offshore Drilling), to build its first KFELS B Class jackup drilling rig for US$180 million.
  • Slated for delivery in 1Q2013, the rig will be able to operate in water depths of 350 feet with a drilling depth of 30,000 feet and accommodate 120 men.
  • Dynamic Offshore Drilling has the option to build an additional rig to be exercised before 3Q2011.
About Dynamic Offshore Drilling
Dynamic Offshore Drilling is part of the Jaguar Group, an ISO-9001:2008 certified EPC Company with its operations in India, Africa, S.E. Asia, Middle East and South America. already has its presence in offshore drilling business through its wholly owned subsidiary Deepwater Drilling & Services Pvt. Ltd, which currently is operating a Jack up drilling rig contract worth USD 71 M for National Oil Company ONGC. Dynamic Offshore Drilling is a newly incorporated drilling company domiciled in Cyprus and aiming to be a significant player in the premium Jackup segment focusing on the Asian and African Markets. The company is backed by strong industrial house and senior management team having more than 200 man years of combined drilling experience, project management and engineering excellence backed by a strong commitment to QHS&E systems and procedures with a dynamic continuous auditing and improvement process. Dynamic Offshore is planning to be listed in the stock exchange in a short span of time.

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Monday, May 16, 2011

Keppel to build 4 repeat jackup rigs worth US$772 million for Standard Drilling

Keppel to build 4 repeat jackup rigs worth US$772 million for Standard Drilling:
Key Points
  • Keppel FELS Limited’s (Keppel FELS) returning customer, Oslo-listed S.D. Standard Drilling Plc (Standard Drilling), has ordered four repeat KFELS B Class rigs worth US$772 million. Successive deliveries of these units are scheduled between 2H2013 and 1H2014.
  • Standard Drilling ordered its first jackup rig from Keppel FELS in November 2010 with two options. In addition, it acquired two jackups under construction as well as two option rigs from Clearwater Capital Partners LLC (Clearwater), another Keppel FELS customer, in a transaction where Clearwater became the largest shareholder of Standard Drilling.
  • Standard Drilling now has a combined fleet of seven KFELS B Class rigs, all being built exclusively at Keppel FELS.
  • The four new orders from Standard Drilling have brought the total value of contracts secured by Keppel Offshore & Marine for the year-to-date to more than S$6.4 billion.
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    Wednesday, May 11, 2011

    Keppel wins twin jackup rig order from Gulf Drilling at US$393 million

    Keppel wins twin jackup rig order from Gulf Drilling at US$393 million:
    Key Points
    • Keppel FELS Limited (Keppel FELS) has secured contracts to build two high-specification KFELS B Class Bigfoot jackup rigs from returning customer Gulf Drilling International Ltd. (q.s.c.) (GDI) of Qatar, worth about US$393 million. 
    • These latest contracts follow closely after Keppel FELS was awarded a newbuild jackup rig contract by one of GDI’s Shareholders, Japan Drilling Company, in March this year.
    • Scheduled for delivery in the third quarters of 2013 and 2014, the two latest rigs mark GDI’s first new orders in six years, and will increase the company’s jackup fleet count to seven units.
    About Gulf Drilling International Ltd. (q.s.c.)
    GDI is a world class drilling service provider offering safe, efficient and innovative drilling services. On May 18, 2004 GDI, was established as the first onshore and offshore oil and gas drilling company in Qatar. GDI was formed as a joint venture between Qatar Petroleum (QP 60%), Qatar’s national oil corporation, and Japan Drilling Co., Ltd. (JDC 40%), a Japanese drilling company with more than 40 years of offshore experience. The paid-up capital was US$ 103.2 Million.

    In July 2007, QP acquired another 25% of JDC shares raising their ownership in GDI to 70%. On 12th February 2008, the shares of QP were transferred to Gulf International Services (q.s.c.) (GIS) which became a public shareholding company on 26th May 2008 and is listed on the Qatar Exchange. GIS now holds 70% of the shares of GDI.

    GDI is a growth-oriented company. GDI’s rig fleet has grown to nine rigs and its workforce to 830 employees. It currently operates a fleet consisting of five offshore jack-up rigs and four land rigs. GDI is already the owner of two jack-up rigs built by Keppel FELS; the Al-Khor, delivered in December 2006 and the Al-Zubarah, delivered in February 2008.

    For more information on GDI, please visit www.gdi.com.qa

    Sunday, May 8, 2011

    Keppel Corp Bonus Issue - Listing of Bonus Shares and Trading in Odd-lots

    Keppel Corp Bonus Issue - Listing of Bonus Shares and Trading in Odd-lots:
    Key Points
    • The Bonus Shares will rank pari passu in all respect with existing shares in the capital of the Company, except that Bonus Shares will not be entitled to the final dividend in respect of the financial year ended 31 December 2010. 
    • The Bonus Shares will be listed and quoted on the Singapore Exchange Securities Trading Limited (“SGX-ST”) and trading in the Bonus Shares is expected to commence at 9.00 a.m. on 9 May 2011.
    • For the purposes of trading on the Main Board of the SGX-ST, each board lot of KCL shares comprises 1,000 KCL shares. However, Shareholders who receive odd-lots of Bonus Shares pursuant to the Bonus Issue should note that a temporary counter for trading of KCL shares in board lots of 100 KCL shares has been established for a period of one calendar month from 9 May 2011 to 9 June 2011 (“Concession Period”) for their convenience.
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      Monday, April 25, 2011

      Keppel Corp Updated Target Price following Q1 2011 result release

      Keppel Corp Updated Target Price following Q1 2011 result release:
      Brokerage Recommendation Target Price (S$) Date of Recommendation
      CIMB OUTPERFORM 14.70 21/04/11
      DMG BUY 14.05 21/04/11
      OCBC BUY 13.92 21/04/11
      KIM ENG BUY 15.30 21/04/11
      DBS BUY 14.90 21/04/11

      Latest updates at Stock Target Price.

      Thursday, April 21, 2011

      Keppel Corp Q1 2011 Quarterly Earnings Report

      Keppel Corp Q1 2011 Quarterly Earnings Report:
      Key Points
      • Net profit improved 7.8% to S$346 million, compared to 1Q 2010’s S$321 million (restated).
      • Earnings Per Share of 21.5 cents, up 7% from 1Q 2010’s 20.1 cents.
      • Annualised ROE of 19.3%.
      • Economic Value Added of S$225 million.
      • Cash outflow of S$20 million.
      • Net cash remains at 0.02x.
      • The Offshore & Marine Division has secured $4.5 billion worth of new orders in the first quarter, more than what was secured for the whole of 2010. Since then, in the first weeks of April, it has secured a few more contracts, bringing the total of new orders secured year to date to $5 billion.
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      Monday, April 18, 2011

      Keppel & Seafox Group’s MPSEP SEAFOX 5 secures first job in offshore wind market

      Keppel & Seafox Group’s MPSEP SEAFOX 5 secures first job in offshore wind market:
      Key Points
      • Keppel FELS Limited (Keppel FELS) is pleased to announce that a contract from the joint-venture Aarsleff Bilfinger Berger (ABJV) Dan Tysk, worth in excess of EUR 35 million, has been secured for SEAFOX 5, the KFELS Multi-Purpose Self-Elevating Platform (MPSEP) wind turbine installation vessel owned and managed with the Seafox Group. The customer ABJV DanTysk has an option to extend the charter by an additional 90 days.
      • Keppel FELS is on track to complete the construction of SEAFOX 5 in the second half of 2012. When delivered, the vessel will be used for installing offshore wind foundations in the 288 megawatt (MW) DanTysk windfarm, developed by Europe’s leading energy company Vattenfall and Stadtwerke München, in the German sector of the North Sea. 
      • A 75/25 joint venture (JV) company was formed between Keppel FELS and Seafox respectively, to build and own SEAFOX 5.
      About ABJV DanTysk
      ABJV DanTysk is a joint venture between Bilfinger Berger Ingenieurbau GmbH, Germany, and Per Aarsleff A/S, Denmark, both companies working as international contractors in major infrastructure projects In this long lasting cooperation ABJV has been awarded with more than 630 offshore wind turbine foundations and is the market leader for offshore foundations in Europe.

      About Seafox Group
      Founded in 1991, the Seafox Group is a leading provider of offshore accommodation and multi-support service jack ups across the world. The Seafox Group services a global range of customers with a primary focus on the Southern North Sea in Europe. It has extensive experience operating and managing assets in this region, which is known for its stringent rules and regulations, and difficult environment. Currently, the Group owns five jack-ups and 50 temporary living quarters. With the exception of the Seafox 3, all jack-ups are time chartered out on full service contracts to respectable customers (e.g. Shell, Total, ConocoPhillips etc.) in the Southern North Sea on short and long term bases.
      The Seafox Group’s operational activities are fully outsourced to Workfox B.V./Ltd situated in Hoofddorp NL and Great Yarmouth UK. Workfox BV/Ltd is the leading operator of multi-support service jack-ups in the Southern North Sea and has been the exclusive manager of the Seafox fleet since the early 90’s.

        Saturday, April 16, 2011

        EMAS to take delivery of one of Vietnam’s largest FPSOs from Keppel Shipyard

        EMAS to take delivery of one of Vietnam’s largest FPSOs from Keppel Shipyard:
        Key Points
        • EMAS Production is set to take delivery of one of Vietnam’s largest Floating Production Storage and Offloading (FPSO) vessels from Keppel Shipyard Limited (Keppel Shipyard), on behalf of owner PV Keez Pte. Ltd (PV Keez).
        • To be managed and operated by EMAS Production, FPSO Lewek EMAS has been chartered by Premier Oil Vietnam Offshore B.V. for the development of the Chim Sáo field off southern Vietnam for six years, with a further option to extend the charter by another six years. The FPSO charter contract is one of only seven signed worldwide in 2009, and is worth approximately US$1 billion.
        • The project to convert the 168,000 dwt Suezmax tanker into an FPSO was awarded to Keppel Shipyard in December 2009. To date, Keppel Shipyard has achieved a good safety record of over 4.1 million incident-free man-hours for its conversion.
        About EMASEMAS, a recognised leading global offshore contractor providing construction, marine, production and well intervention services, is the operating brand of Singapore listed Ezra Holdings Limited (以斯拉控股) and Oslo listed EOC Limited. EMAS specialises in delivering best-value solutions and has become a powerful alternative in the oil and gas(O&G) industry by combining a customised approach along with a widely diverse offering of assets and services to meet clients’ needs. EMAS operates globally with offices in 16 locations across five continents spanning Africa, the Americas, Asia Pacific and Europe. 

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          Wednesday, April 13, 2011

          Keppel bags offshore & marine jobs worth S$240 million from global customers

          Keppel bags offshore & marine jobs worth S$240 million from global customer:
          Key Points
          • Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned subsidiaries in Singapore, has clinched new contracts totaling S$240 million from international customers.
          • Keppel Singmarine will build for SBM Offshore a prototype multi-purpose dive support construction vessel (DSCV) scheduled for delivery in 2Q 2013.
          • Keppel Shipyard has also secured a fast-track project for the upgrading of a FPSO vessel from Petrofac International (UAE) LLC, a subsidiary of Petrofac.
          Related Posts

            Monday, April 4, 2011

            Keppel secures repeat jackup rig order from Jasper at US$180 million

            Keppel secures repeat jackup rig order from Jasper at US$180 million:
            Key Points
            • Jasper Investments Limited (Jasper) has exercised its option with Keppel FELS Limited (Keppel FELS) to build a second KFELS B Class jackup rig at US$180 million for delivery in 1H2013. 
            • The single-rig option was given to Jasper when the customer ordered its first jackup from Keppel FELS in December 2010.
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              Thursday, March 31, 2011

              Date of Result Release for Q1 2011 for K-Reit, K-Green, Kepland, Keppel Corp

              Updated date of Result Release for Q1 2011:

              Company Date of Result Release
              K-Green 14/04/11
              K-Reit 14/04/11
              Keppel Land 19/04/11
              Keppel Corp 20/04/11

              Latest Update at Results Release.

              Thursday, March 17, 2011

              JAPAN DRILLING COMPANY AWARDS US$210 MILLION JACKUP CONTRACT TO KEPPEL

              JAPAN DRILLING COMPANY AWARDS US$210 MILLION JACKUP CONTRACT TO KEPPEL:
              Key Points
              • Keppel FELS Limited (Keppel FELS) has secured a contract worth about US$210 million from Japan Drilling Company (JDC) to build a KFELS Super B Class jackup rig.
              • Slated for delivery in the first quarter of 2013, the rig will be JDC’s first newbuild rig order in six years and Keppel FELS’ first for JDC.
              • 12th rig order brings Keppel O&M’s total contracts value to S$4.5 billion in 1Q2011.
              About Japan Drilling Company
              Japan Drilling Co., Ltd. (JDC) is Japan's sole offshore drilling contractor, and has been providing quality drilling services for more than 40 years. In addition to offshore drilling services, JDC provides Engineering Services and R&D in relation to offshore drilling as well as oil and gas exploration and development, and also Horizontal Directional Drilling (HDD) services. For more information about JDC, please visit www.jdc.co.jp

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              Friday, March 11, 2011

              KEPPEL SHIPYARD NETS TWO CONTRACTS WORTH S$170 MILLION

              KEPPEL SHIPYARD NETS TWO CONTRACTS WORTH S$170 MILLION:
              Key Points
              • Keppel Shipyard Limited (Keppel Shipyard), a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M), has secured new contracts totalling S$170 million for two fast-track projects.
              • The new jobs comprise completing a Pipe Laying Vessel for Saipem S.p.A (Saipem) and converting a Floating, Storage and Offloading (FSO) vessel for Bumi Armada Berhad (Bumi Armada).
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                Wednesday, March 9, 2011

                Keppel Corp Updated Target Price following Announcement of New Contract:

                Keppel Corp Updated Target Price following Announcement of New Contract:

                Brokerage Recommendation Target Price (S$) Date of Recommendation
                DMG BUY 13.94 08/03/11
                CIMB OUTPERFORM 15.00 08/03/11

                Latest updates at Stock Target Price.

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                Tuesday, March 8, 2011

                KEPPEL TO BUILD NEW JACKUP WORTH US$195 MILLION FOR MEXICO

                KEPPEL TO BUILD NEW JACKUP WORTH US$195 MILLION FOR MEXICO:
                Key Points
                • Keppel AmFELS LLC, a US wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has won a contract from Mexico’s Perforadora Central SA de CV (Perforadora Central) to build a repeat jackup rig valued  at about US$195 million.
                • Slated for delivery in 1Q 2013, this latest high specification unit will be based on the LeTourneau Super 116E design. Unlike the existing  LeTourneau Super 116Es, this will be the first Super 116E newbuild to be further enhanced to provide for an additional 1,500 kips of elevated load. 
                • It will have leg lengths of 511 ft and the capability to drill wells up to 30,000 ft at a water depth of 375 ft.
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                  Thursday, March 3, 2011

                  Keppel Offshore & Marine acquires 27.8% stake in SGX-listed topside module fabricator Dyna-Mac

                  Keppel Offshore & Marine acquires 27.8% stake in SGX-listed topside module fabricator Dyna-Mac:
                  Key Points
                  • Keppel Offshore & Marine Limited (Keppel O&M), through its wholly-owned subsidiary KS Investments Pte Ltd (KSI), has acquired a 27.77% stake (250,000,000 shares) in topside module fabricator Dyna-Mac Holdings Ltd (Dyna-Mac) via an equity placement.
                  • This follows Dyna-Mac’s successful listing on the main board of Singapore Exchange Securities Trading Limited (SGX). 
                  • KSI’s total investment is S$87.5 million based on the invitation price of 35 cents per share. 
                  • The equity placement, through its investment vehicle KSI, is part of a collaboration between Keppel Shipyard (a wholly-owned subsidiary of Keppel O&M) and Dyna-Mac to jointly pursue the topside module business beyond Singapore’s shores.

                  Thursday, February 17, 2011

                  KEPPEL BAGS TWO-RIG CONTRACT FROM TRANSOCEAN WORTH US$380 MILLION

                  KEPPEL BAGS TWO-RIG CONTRACT FROM TRANSOCEAN WORTH US$380 MILLION:
                  Key Points
                  • Keppel FELS Limited (Keppel FELS) has secured a contract worth approximately US$380 million from Transocean Offshore Deepwater Holdings Ltd, a subsidiary of Transocean Ltd. (Transocean), to build two high-specification jackup rigs based on the KFELS Super B Class Bigfoot design. 
                  • The rigs’ deliveries are scheduled from 2H 2012 onwards.
                  • As part of the agreement, Transocean has options to order three additional jackup units.
                  Related Posts

                  KEPPEL WINS TWO JACKUPS ORDERS WORTH US$1 BILLION FROM MAERSK

                  KEPPEL WINS TWO JACKUPS ORDERS WORTH US$1 BILLION FROM MAERSK:
                  Key Points
                  • Keppel FELS Limited (Keppel FELS) has been awarded contracts from Maersk Drilling Holdings Singapore Pte Ltd, a wholly owned subsidiary of A.P. Moller – Maersk A/S (Maersk), to build two Gusto MSC CJ70 harsh  environment jackup rigs worth close to US$1 billion.
                  • The first rig is scheduled for delivery near end-2013, with the second rig following seven months later. 
                  • As part of the agreement, Maersk has the option to build an additional jackup unit with Keppel FELS.
                  About A.P. Moller - Maersk Group
                  The A.P. Moller - Maersk Group is a worldwide conglomerate. It operates in some 130 countries and has a workforce of some 115,000 employees. In addition to owning one of the world’s largest shipping companies, it is involved in a wide range of activities in the energy, logistics, retail and manufacturing industries.

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