Keppel Offshore & Marine Limited has received indications from Seadrill Limited, Scorpion Offshore Ltd, and Lewek Shipping Pte Ltd that they are reviewing their options on their newbuilding contracts, signed in the middle of this year.
The contracts under review are for a semisubmersible for Scorpion Offshore, two jackup rigs for Seadrill and a Multi-Functional Support Vessel for Lewek Shipping. Keppel O&M is in talks with them to arrive at mutually acceptable arrangements for these contracts. Construction work has not started on these projects, for which Keppel O&M has received down payments. If these contracts are cancelled, the cancellations are not expected to have any material impact on the net tangible assets or earnings per share of Keppel Corporation for the financial year ending 31 December 2008. Keppel O&M has a strong orderbook of about $12.5 billion extending through to 2012 and its contracts are cashflow positive.
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Friday, November 28, 2008
Vulnerability of coastline in focus
New Delhi: Even as elite commando units from the Navy and the National Security Guard mounted operations to flush out terrorists from the Taj and Trident-Oberoi hotels on Thursday, security and intelligence agencies stressed on the vulnerability of India’s 7,516-km coastline along nine States and four Union Territories.
Though the “Coastal Security Scheme” was launched in March 2006 by the Union Home Ministry, the breach of coastline in Mumbai on Wednesday by terrorists showed they could enter through the gaps. As Mumbai’s nightmarish terror attacks began and the security and intelligence agencies apprehended its gravity, arrangements were made to fly the first lot of commandos in an IL-76 military transport aircraft, owned by the Aviation Research Centre of the Research and Analysis Wing, at 3 a.m. Along the coast from Mumbai to Gujarat, ships were being intercepted and checked by the Navy and the Coast Guard. Sources in the Home Ministry said the Coastal Security Scheme was being given top priority for setting up 73 coastal police stations, 97 check posts, 58 outposts and 30 barracks. About 50 of the 73 approved coastal police stations had already been made operational, the sources said. Under the scheme, the coastal police stations were to be equipped with 204 boats, 149 jeeps, 312 motorcycles for increasing mobility of the police personnel on the coasts and in close coastal waters. The scheme has been reviewed by the Home Ministry from time to time. The Coast Guard has also been imparting training to different State police personnel in mounting maritime vigil.
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Though the “Coastal Security Scheme” was launched in March 2006 by the Union Home Ministry, the breach of coastline in Mumbai on Wednesday by terrorists showed they could enter through the gaps. As Mumbai’s nightmarish terror attacks began and the security and intelligence agencies apprehended its gravity, arrangements were made to fly the first lot of commandos in an IL-76 military transport aircraft, owned by the Aviation Research Centre of the Research and Analysis Wing, at 3 a.m. Along the coast from Mumbai to Gujarat, ships were being intercepted and checked by the Navy and the Coast Guard. Sources in the Home Ministry said the Coastal Security Scheme was being given top priority for setting up 73 coastal police stations, 97 check posts, 58 outposts and 30 barracks. About 50 of the 73 approved coastal police stations had already been made operational, the sources said. Under the scheme, the coastal police stations were to be equipped with 204 boats, 149 jeeps, 312 motorcycles for increasing mobility of the police personnel on the coasts and in close coastal waters. The scheme has been reviewed by the Home Ministry from time to time. The Coast Guard has also been imparting training to different State police personnel in mounting maritime vigil.
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Signal Dock - Thunder Hawk Hull Repair
Signal International announced that SBM-Atlantia’s Thunder Hawk is currently drydocked at the company’s Port Arthur Texas facility for hull repairs.
The huge structure arrived at Port Arthur after being transported from Singapore on a heavy lift dry-tow vessel. Drydocking of the newbuild semi will enable Signal to repair damage that was done to Thunder Hawk’s pontoons before leaving Southeast Asia. Repairs consist of: grit-blasting to bare metal the perimeter of the damaged outer hull, torch cutting to enable removal of the damaged hull segments, fitting and welding of the prefabricated replacement hull sections and restoring coatings in accordance with the design specifications. The on-dock work is expected to take 30 to 45 days and employ up to 200 additional craftsmen. Signal International, LLC, is a marine and fabrication companies in the Gulf of Mexico providing repair, upgrade, new construction and fabrication services to the offshore and marine industry. Headquartered in Mobile, Alabama, Signal currently employs over 4,000 workers in its six production facilities, two in Mississippi and four in Texas.
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The huge structure arrived at Port Arthur after being transported from Singapore on a heavy lift dry-tow vessel. Drydocking of the newbuild semi will enable Signal to repair damage that was done to Thunder Hawk’s pontoons before leaving Southeast Asia. Repairs consist of: grit-blasting to bare metal the perimeter of the damaged outer hull, torch cutting to enable removal of the damaged hull segments, fitting and welding of the prefabricated replacement hull sections and restoring coatings in accordance with the design specifications. The on-dock work is expected to take 30 to 45 days and employ up to 200 additional craftsmen. Signal International, LLC, is a marine and fabrication companies in the Gulf of Mexico providing repair, upgrade, new construction and fabrication services to the offshore and marine industry. Headquartered in Mobile, Alabama, Signal currently employs over 4,000 workers in its six production facilities, two in Mississippi and four in Texas.
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Maritime authorities of Singapore and Panama to strengthen ties
The Maritime and Port Authority of Singapore (MPA) Chief Executive Tay Lim Heng said that his organization and the Panama Maritime Authority (AMP) will strengthen ties to face the issue of piracy and further co-operation between flag states.
MPA's Tay Lim Heng, accompanied by Singapore Ambassador to Panama Ms. Mary Seet Cheng, was visiting Panama to meet the AMP Administrator Fernando Solorzano and AMP Merchant Marine Chief Alfonso Castillero, the Panama Canal Administrator and Panama's Chamber of Shipping president. The discussions between the two maritime authorities focused on the future signature of a Memorandum of Understanding between both countries to promote co-operation of Panama and Singapore as flag states, regional cooperation to combat piracy and armed robbery, updates on co-operative mechanisms, greenhouse Co2 emissions and synergy in maritime education and training. "It is a good start," said Tay who noted that both authorities face common challenges. "There is the potential to co-operate more closely," said Tay. Tay invited Panama to join the Regional Cooperation Agreement on Combating Piracy and Armed Robbery (ReCAAP) and participate in the next Government Meeting in February in Singapore, whether Panama could play a role in the organization.
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MPA's Tay Lim Heng, accompanied by Singapore Ambassador to Panama Ms. Mary Seet Cheng, was visiting Panama to meet the AMP Administrator Fernando Solorzano and AMP Merchant Marine Chief Alfonso Castillero, the Panama Canal Administrator and Panama's Chamber of Shipping president. The discussions between the two maritime authorities focused on the future signature of a Memorandum of Understanding between both countries to promote co-operation of Panama and Singapore as flag states, regional cooperation to combat piracy and armed robbery, updates on co-operative mechanisms, greenhouse Co2 emissions and synergy in maritime education and training. "It is a good start," said Tay who noted that both authorities face common challenges. "There is the potential to co-operate more closely," said Tay. Tay invited Panama to join the Regional Cooperation Agreement on Combating Piracy and Armed Robbery (ReCAAP) and participate in the next Government Meeting in February in Singapore, whether Panama could play a role in the organization.
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Indonesia cracks down on cruise ship gambling
The Indonesian Government may take action against people who gamble when they arrive in Indonesia and transit to cruise ships that sail beyond Indonesian jurisdiction, as they might be breaking national laws that apply to Indonesian sovereign territory.
According to the Jakarta Post, gamblers arrive by ferry from Malaysia and Singapore and transit at either the Nongsa Pura or Harbor Bay Batam harbours, and then depart on a cruise ship that sails into international waters. “They usually come in groups of hundreds of people, using ferries from Singapore or Malaysia,” Riau Island police officer Brig Gen Indradi Thanos was quoted as saying in the Jakarta Post. But it seems that these people might be breaking national rules about gamblers in transit. While the cruise ships anchor at sea at a point which does not count as Indonesian territory, the police cannot take legal action against the gamblers; however Brig Gen Thanos said that the transit through Indonesian territory may be grounds for legal action as they may have broken rules on sovereignty.
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According to the Jakarta Post, gamblers arrive by ferry from Malaysia and Singapore and transit at either the Nongsa Pura or Harbor Bay Batam harbours, and then depart on a cruise ship that sails into international waters. “They usually come in groups of hundreds of people, using ferries from Singapore or Malaysia,” Riau Island police officer Brig Gen Indradi Thanos was quoted as saying in the Jakarta Post. But it seems that these people might be breaking national rules about gamblers in transit. While the cruise ships anchor at sea at a point which does not count as Indonesian territory, the police cannot take legal action against the gamblers; however Brig Gen Thanos said that the transit through Indonesian territory may be grounds for legal action as they may have broken rules on sovereignty.
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Dana Gas proceeds with Sharjah exploration, development
Dana Gas will proceed with exploration and development plans at the Western Offshore concession in the Emirate of Sharjah as part of a new 25-year agreement with the Government of Sharjah, UAE.
The deal will see Dana Gas’ entry in the GCC exploration sector. It also marks the company’s first offshore upstream asset. The concession covers some 1,000 square kilometres offshore, and will also include the development of the Zora offshore gas field by mid-2009. Dana Gas will complete the horizontal drilling of two wells which were drilled by Crescent Petroleum. The company will then install offshore platforms for processing and production.
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The deal will see Dana Gas’ entry in the GCC exploration sector. It also marks the company’s first offshore upstream asset. The concession covers some 1,000 square kilometres offshore, and will also include the development of the Zora offshore gas field by mid-2009. Dana Gas will complete the horizontal drilling of two wells which were drilled by Crescent Petroleum. The company will then install offshore platforms for processing and production.
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