Energy & Offshore News
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ENERGY & OFFSHORE |
22 May 13
73 reads
10,000 sqm facility located in Tuas.
In a release, Acteon said it is building a custom-built service centre at the new Offshore Marine Centre in the Tuas industrial area of Singapore which will boost Acteon operations and improve its customer service in South East Asia.
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ENERGY & OFFSHORE |
21 May 13
55 reads
He took over the post vacated by his father-in-law Datuk Tiong Su Kouk, who relinquished his CEO role to comply with a guideline of the Code of Corporate Governance 2012, where the Chairman and CEO should be separate persons. Read ››
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ENERGY & OFFSHORE |
21 May 13
72 reads
Blame it on softer CPO prices.
According to OCBC Investment Research, Global Palm Resources (GPR) posted 1Q13 revenue of IDR66.8b, down 33% YoY and 4% QoQ, hit by softer CPO (crude palm oil) prices as well as lower volume sold.
OCBC noted that reported net profit tumbled 36% YoY to IDR8.3b; GPR posted a net loss of IDR85.7b in 4Q12 due to a large bio-asset revaluation loss of IDR116.9b.
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BUILDING & ENGINEERING, ENERGY & OFFSHORE |
20 May 13
294 reads
Outlook brightening as drillers escalate activities.
According to Barclays Research, increasing drilling activity in the North Sea and Gulf of Mexico (GOM) is poised to boost Singapore rig builders, especially Keppel Corp and Sembcorp Marine, who will be tapped to provide offshore drilling rigs for the expansion-hungry drillers. Read ››
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ENERGY & OFFSHORE, UTILITIES |
19 May 13
142 reads
Through JV with Oman Oil Company.
Sembcorp Industries (Sembcorp) has announced that its newly-incorporated wholly-owned subsidiary, Sembcorp Utilities (Oman), has signed a joint venture agreement with Takamul Investment Company (Takamul), a subsidiary of Oman Oil Company, to develop centralised utilities facilities for the Duqm Special Economic Zone (SEZ), a new major industrial and commercial hub that is set to be one of the world’s largest special economic zones. Read ››
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ENERGY & OFFSHORE |
18 May 13
845 reads
Meant to expand regional presence.
The Asia Pacific region’s leading provider of logistics, Toll Group, has opened its landmark S$300 million Toll Offshore Petroleum Services (TOPS) facility in Loyang, Singapore. Read ››
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ENERGY & OFFSHORE |
18 May 13
102 reads
It enhances liquidity, reduces leverage.
In a release, Moody's Investors Service announced it has placed on review for upgrade Singapore Power's (SP) Aa3 issuer rating, SP Power Assets' (SPPA) Aa3 issuer and senior unsecured bond ratings, and SPPA's (P)Aa3 Senior Unsecured MTN Program domestic currency rating. Read ››
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ENERGY & OFFSHORE |
17 May 13
62 reads
He will replace resigning independent director Xing Heping.
The Board of Mirach Energy announced the appointment of Chu Ming as independent director. Read ››
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ENERGY & OFFSHORE |
17 May 13
52 reads
Her appointment was deemed to contribute to the streamlining and enhancing of financial governance of the Company's business units across various regions. Read ››
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ENERGY & OFFSHORE, TRANSPORT & LOGISTICS |
15 May 13
134 reads
Refined petroleum business gaining revenue steam.
See Hup Seng Limited (See Hup Seng), a provider of corrosion prevention services in Singapore and strategic value-added distributor of petroleum-derived products in Asia Pacific, reported that its earnings for the first quarter ended 31 March 2013 (1Q13) jumped 53% to S$2.1 million from S$1.4 million in 1Q12. Read ››
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ENERGY & OFFSHORE |
15 May 13
74 reads
Expanding costs hurt gross profit.
In its unaudited results for the quarter ended 31 March 2013, Interra Resources Limited announced that net profit after tax for the quarter was S$1.36 million, which was 9% lower than the $1.49 million posted on the same period last year. Read ››
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ENERGY & OFFSHORE |
14 May 13
268 reads
As revenue surged a blistering 59.3%.
Swiber Holdings Limited (Swiber), an integrated construction and support services provider to the offshore oil and gas industry, reported that the Group has achieved a 104.0% surge in net profit to US$25.6 million from US$12.5 million for the first quarter ended March 31, 2013 (1Q2013). Read ››
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ENERGY & OFFSHORE |
14 May 13
1516 reads
Established drillers wary of Chinese yard capabilities.
Barclays Research said that according to its discussions with major industry players, the outlook remains bright for Singapore rig builders to clinch orders from the ongoing demand boom. Read ››
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BUILDING & ENGINEERING, ENERGY & OFFSHORE |
13 May 13
218 reads
For one AHTS and four PSVs.
In a disclosure to the Singapore Exchange, the Board of Directors of Nam Cheong Limited (Nam Cheong) announced that Nam Cheong International Ltd., a wholly-owned subsidiary of Nam Cheong, has secured sale contracts (Contracts) with a total value worth USD110 million for one unit of Anchor Handling Towing Supply (AHTS) vessel and four units of Platform Supply Vessels (PSVs). Read ››
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ENERGY & OFFSHORE |
10 May 13
256 reads
But revenue slipped 8% yoy.
OCBC said that Hyflux's 1Q13 results performance showed a slow start, which is characteristic for the company as its weakest quarter. Read ››
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ENERGY & OFFSHORE |
08 May 13
166 reads
It got its first cargo.
According to a release, Singapore’s Liquefied Natural Gas (LNG) terminal receives its first commercial cargo and commences commercial operations. Read ››
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ENERGY & OFFSHORE |
07 May 13
116 reads
He resigned from the post at the age of 60. Read ››
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ENERGY & OFFSHORE |
06 May 13
183 reads
Plus around S$2.5m for final coupon.
Offshore marine company Otto Marine Limited announced that the Group has made full payment in respect of the 3-year unsecured notes at a fixed rate of 4.845% due on 6 May 2013 (Notes) worth a final amount of approximately S$102.5 million. Read ››
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ENERGY & OFFSHORE |
03 May 13
147 reads
He has decided not to seek re-election in the Annual General Meeting. Read ››
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ENERGY & OFFSHORE |
01 May 13
76 reads
He cited his old age as his reason for his stepping down. Read ››
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ENERGY & OFFSHORE |
01 May 13
98 reads
Both Koh Soo Keong and Abdulla Mohammed Saleh did not seek re-election. Read ››
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ENERGY & OFFSHORE |
30 Apr 13
75 reads
He retired at Annual General Meeting held on 29 April 2013. Read ››
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ENERGY & OFFSHORE |
26 Apr 13
73 reads
He was also chairman of Remuneration Committee and a member of Audit and Nominating Committees. Read ››
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ENERGY & OFFSHORE |
24 Apr 13
139 reads
Bright prospects for TMT-53.
In its latest Indonesia production testing update, Mainboard-listed Interra Resources said that its wholly owned subsidiary, Goldwater TMT Pte. Read ››
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ENERGY & OFFSHORE |
24 Apr 13
204 reads
Its orderbook backlog now stands at S$415m.
In a release, Boustead Singapore Limited announced that its Energy-Related Engineering Division secured approximately S$60 million in contracts within the past month from the oil & gas industries globally. Read ››
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BUILDING & ENGINEERING, ENERGY & OFFSHORE |
23 Apr 13
168 reads
Delivery set for 1H14.
Main Board-listed offshore marine builder Nam Cheong Limited (Nam Cheong) announced that it has sold two vessels worth a total of US$59.0 million. Read ››
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ENERGY & OFFSHORE |
22 Apr 13
150 reads
It will take effect on April 22.
In a release, the National Environment Agency (NEA) has introduced mandatory energy management requirements for large energy users in the industry sector. Read ››
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ENERGY & OFFSHORE |
22 Apr 13
BY JOERGEN OERSTROEM MOELLER
964 reads
Singapore, like the rest of the world, faces a new paradigm for energy supply and even more important the energy supply chain – exploration, exploitation/extraction, transport, grid, pollution, carbon dioxide emissions. Read ››
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ENERGY & OFFSHORE, SHIPPING & MARINE |
16 Apr 13
226 reads
Brings Keppel O&M new orders to $1.8b.
In a release, Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M), announced that it has secured a contract from Singapore-listed Falcon Energy Group Limited (Falcon Energy) through its subsidiary, FTS Derricks, to construct a KFELS Super B Class jackup rig. Read ››
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ENERGY & OFFSHORE |
15 Apr 13
109 reads
He will retire by rotation pursuant to Article 104 of the company's Articles of Association on 30 April. Read ››
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ENERGY & OFFSHORE |
11 Apr 13
237 reads
Strong results in second quarter of 2013.
Triyards Holdings Limited (Triyards) an offshore vessel fabrication and engineering solutions provider to the oil and gas (O&G) industry, reported a strong 157% increase in net attributable profit (PATMI) to US$7.1 million as turnover rose 23% to US$79.4 million for the second quarter ended 28 February 2013, compared to the corresponding financial period of FY12. Read ››
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ENERGY & OFFSHORE |
10 Apr 13
170 reads
Possibly best initial rate in company's history.
According to Interra Resources Limited, its wholly owned subsidiary, Goldwater TMT Pte. Read ››
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ENERGY & OFFSHORE, PROFESSIONAL SERVICES/LEGAL |
09 Apr 13
469 reads
Partner Gary Wigmore led deal team.
In a release, law firm Milbank, Tweed, Hadley & McCloy said it has represented First Pacific Company Limited of Hong Kong, Manila Electric Company of the Philippines, and their joint venture vehicle FPM Power Holdings Limited, on the innovative purchase of a 771MW new-generation LNG power plant that will supply electricity to the Singapore grid. Read ››
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ENERGY & OFFSHORE |
05 Apr 13
151 reads
Their resignation is pursuant to the proposed disposal of entire equity interest in Sim Siang Choon Hardware by Loyz Energy to Sim Siang Choon. Read ››
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ENERGY & OFFSHORE |
04 Apr 13
137 reads
She had played a key role in customer support and oversee the logistic function. Read ››
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ENERGY & OFFSHORE |
04 Apr 13
110 reads
The Board of SBI Offshore banks on his experience in offshore and shipping industries. Read ››
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ENERGY & OFFSHORE |
03 Apr 13
111 reads
The Board banks on Tan Liam Beng's experience in building and construction industry and Nathan Elumalay's network of contacts in the Middle East. Read ››
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ENERGY & OFFSHORE |
02 Apr 13
129 reads
Second contract win for the year.
Singapore-listed Kreuz Holdings Limited (Kreuz), an integrated subsea service provider for the oil and gas industry, announced that it has secured a subsea installation contract in 2013 worth approximately US$25.0 million from a third-party client, who is a leading offshore contractor in the oil and gas industry. Read ››
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AGRIBUSINESS, ENERGY & OFFSHORE |
02 Apr 13
252 reads
It's currently a whopping 78% of group profit.
According to CIMB, Noble Group's energy segment has been Noble’s strongest growth driver, contributing 78% of the group’s gross profits today from just 33% in 2007. Read ››
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ENERGY & OFFSHORE |
01 Apr 13
157 reads
2H13 will see orders picking up.
According to Maybank Kim Eng, the weakened orders observed in 2H12 should start to strengthen by the second of half of this year due to the continued flourish of offshore activities and need for VARD's more sophistacted and modern fleet vessels. Read ››
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