Keppel & Nakilat launches premier marine & offshore facility in Qatar - 24 NOV 2010

Keppel & Nakilat launches premier marine & offshore facility in Qatar. See press release.

Key Points

• Nakilat-Keppel Offshore & Marine (N-KOM), Qatar’s premier offshore and marine facility jointly developed by Keppel Offshore & Marine Limited (Keppel O&M) and Qatar Gas Transport Company Ltd (Nakilat), was launched yesterday.
• N-KOM is a 43-hectare world-class shipyard facility in which Nakilat owns 80 percent and Keppel the other 20 percent.
• Located at the north-eastern tip of Qatar within the Ras Laffan Industrial City and close to the LNG terminals and the Ras Laffan Port, N-KOM boasts some of the most technologically advanced equipment for increased efficiency, quality and safety.

Financial News - 2 AUG 2010: Keppel to raise stakes in an associate shipyard in the Philippines

Keppel to raise stakes in an associate shipyard in the Philippines. See press release.


Key Points

• Keppel Corporation Limited (Keppel Corp), through a subsidiary Keppel Philippines Marine Inc, (KPMI), is raising its shareholdings in two associated companies, Subic Shipyard and Engineering Inc. (SSEI) and Consort Land, Inc. (CLI) to boost its Near Market, Near Customer strategy in the Philippines.
• SSEI is a leading shipyard located in Subic Bay, the Philippines, which provides repair, conversion and building services to shipowners and offshore operators in the region. It also carries out routine and specialised machinery reconditioning works, as well as steel fabrication for marine and offshore structures. 
• CLI owns 72 ha of land including the 20 ha on which SSEI is situated.
• A total cash consideration of approximately S$86.5 million will be made by Keppel to raise its effective stakes from 44% to 83.9% in SSEI and from 33.7% to 38.7% in CLI. 
• The sale and purchase of shares in both companies is expected to be completed by the end of September 2010, following which, SSEI will become a Keppel subsidiary.
  
  
  

Financial News - 14 APR 2010: Keppel fortifies market leadership in Brazil with new shipbuilding yard

Keppel fortifies market leadership in Brazil with new shipbuilding yard. See press release and related report.

Key Points

• Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned Brazilian subsidiary, Navegantes Maritime Construction and Services, has entered into an agreement with Brazil’s TWB Group to acquire the Estaleiro TWB shipyard in Navegantes, Santa Catarina.
• This 7.6-ha shipyard will be operated by Keppel O&M’s specialised shipbuilding arm, Keppel Singmarine. It has a 300-metre long waterfront and is equipped with a slipway, pipe and hull shops and an outfitting quay. Keppel O&M’s total investment in the yard, including further capital expenditure to upgrade and modernise the facility, will be in the region of about US$50 million.
• The new yard is expected to be operational by the second half of 2010. At full capacity, it is estimated to be able to complete an average of eight vessels a year.

Author's Note
Previously Petrobras has announced plans to charter some 147 locally-built Offshore Support Vessels over the next five years. The new shipyard will help Keppel to meet the demand for works to be carried out locally in Brazil.

Financial News - 19 MAR 2010: Keppel in joint venture to build and operate new shipyard in Azerbaijan

Keppel in joint venture to build and operate new shipyard in Azerbaijan. See report.

Key Points

• Fortifying its presence in the Caspian Region, Keppel Offshore & Marine Limited (Keppel O&M) joins hands with State Oil Company of Azerbaijan Republic (SOCAR) and Azerbaijan Investment Company (AIC) to develop and manage a new 52-ha shipbuilding and shiprepair facility in Baku, Azerbaijan.
• Shipyard will be developed over a period of two to three years with an investment of US$386 million.
• The joint venture agreement will be signed with Keppel O&M taking a 10% share of the yard, and SOCAR and AIC the other 65% and 25% respectively.
• Keppel O&M will be responsible for the management and operation of the yard.
• Keppel O&M will have the option to acquire another 10% stake in the next three years.
• The new yard is designed to undertake construction of a variety of vessels ranging from offshore support vessels to tankers, as well as ship repair and conversion.
• Spanning a 1,630-metre waterfront, the yard, when completed, will be able to undertake 80 to 100 repairs and conversions per annum and is estimated to achieve an average annual steel throughput of 25,000 tons when operating at full capacity.
• When fully operational, our new yard will create employment opportunities for some 2,000 people.