Shipping & Marine

Tiong Woon’s revenue surges 36% to S$75m in 1H12

Revenue for its Marine Transportation segment grew the most at 86% to S$5 million in 2Q12. Read ››

Otto Marine bags US$21m charter contract in Africa

“Beluga 1” will be operated by Global Workboats and be deployed off the coast of Nigeria. Read ››

FSL Trust torpedoed by major lease defaults

Lessees have been given an ultimatum to pay until March 8 or risk repossession of the chartered vessels. Read ››

Keppel and ConocoPhillips to design first jackup rig for the Arctic Offshore

The ice-worthy jackup rig will be operating in one of the harshest marine frontiers, the Arctic Seas. Read ››

What can the Petrobras drillship order do for Sembcorp Marine?

It will obviously provide SMM the initial impetus to establish its foothold in the local Brazilian market - but this is just one benefit. Read ››

Will oversupply work to STX OSV's advantage?

The Main Board-listed shipbuilder holds the premium ace amid a sea of other OSV makers, says OCBC. Read ››

Sembcorp secures first drillship order for Brazil

But management admits that the $792.5m-worth of drillship contract won’t have any material impact for FY2012. Read ››

NOL’s shipping volumes up 7% in FY11

As higher volumes were carried on the Intra-Asia trade lane. Read ››

What's the 2012 battle plan for Keppel Corp?

CEO Choo Chiau Beng shares the conglomerate's strategies after a stellar 2011. Read ››

Will the legal dispute between Baker Tech and Sembcorp finally come to an end?

The High Court has given Sembcorp 21 days to file its written replies to Baker Tech, PPL Holdings, and E-Interface. Read ››

Keppel’s net profit smashes $1b mark for fifth straight year

The group’s net profit jumped 14% to a whopping $1.5 billion in 2011. Read ››

STX OSV sale by April?

Talk is growing that the debt-heavy shipbuilder will be snatched up soon, notes AmFraser. Read ››

Defaults and bankruptcies threaten shipping industry

Credit risks are rising fast as maritime services slow to a crawl in 2012, says DBS Vickers. Read ››

Keppel stays strong with US$8b orderbook

DBS is confident that Keppel can secure a minimum of US$6 billion in new orders in FY12. Read ››

Sembcorp Marine: We’re not bidding for STX OSV stake

The company issued a clarification statement in response to a media report. Read ››

Jaya Holdings appoints Venkatraman Sheshashayee as Executive Director and COO

He is tasked for the promotion, development and extension of the business of the group. Read ››

Mermaid Maritime Public appoints Bruce Gemmell as CEO

He carries out the strategies and policies as established by the Board and for the overall management, development and financial performance of the group. Read ››

Sembcorp Marine buoyed by positive sentiment: OCBC

Sembcorp Marine’s stock is expected to outperform its closest peer, Keppel Corporation. Read ››

NOL completes financing of new containerships

It previously received firm financing offers of about US$1.14b. Neptune Orient Lines said it has finalized and completed the loan agreements and financing documentation with all the various banks and financial institutions that are providing financing for its 12 new containerships. Read ››

Cosco Corporation shipyards deliver finished vessels

Four bulk carriers sent off to buyers in Europe and Asia. Read ››

Port of Singapore just won't sink

Vessel arrival tonnage and container throughput grew in 2011 despite recession woes. Read ››

COSCO Singapore Chairman Liu Guo Yuan retires

He is replaced by Ma Ze Hua. Liu Guo Yuan joined COSCO Group in 1975 after graduating from Beijing Foreign Studies University, and obtained a master degree from the law school of the University of Washington in 1982. Read ››

NOL’s profit margin likely to remain depressed: OCBC

The analyst said the unfavourable demand and supply dynamics in container shipping do not exude confidence that the recent freight rate hikes are sustainable. Read ››

Keppel ends 2011 with S$10b worth of new orders

Keppel’s O&M division clinches a contract to build a 91-metre container vessel for a Papua New Guinea-based mining company. Read ››

Cheng Wai Keung retiring as NOL Chairman

He will retire from the NOL Board after its annual general meeting scheduled in April 2012. Read ››

Singapore International Cruise Terminal has new operator

Which firm beat out two other bids for the ten-year appointment? Read ››

ASL Marine appoints Ang Iris as CFO

This follows the resignation of Ms Lilian Tan Yin Yen as Group Financial Controller and Company Secretary. Read ››

Sembcorp Marine’s subsidiary Jurong Shipyard bags US$291.6m contract

It will be building an accommodation semi submersible rig scheduled for delivery in the second quarter of 2014. Read ››

Stormy seas ahead: NOL may skip dividends in 2012

Full year loss awaits the shipping and logistics giant, says Phillip Capital. Read ››

NOL stands to lose a whopping US$286m in FY11

Kim Eng forecasts the group’s 4Q net loss to amount to US$128m as shipping volumes continue to slow. Read ››

Lower contract wins for Keppel in the next two years

UOB forecasts a mere S$4billion per year for the group as an economic slowdown is just around the corner. Read ››

More losses ahead as Neptune Orient Lines suffers double whammy

The second half of the year wasn’t a great one for the group as it recorded a sharper-than-expected net loss of US$91m in 3Q11. Read ››

NOL sinking with demand-supply mismatch

Anemic demand and excess capacity combine for a perfect storm till mid-2012. Read ››

NOL: Hapag-Lloyd bid reports false

Neptune Orient Lines clarified it is not making another bid for a stake in Hapag-Lloyd. Read ››

Will Noble continue to sink in 4Q11?

The company’s share price fell 25% in 3Q11, but DMG believes somebody can steer Noble to the right direction. Read ››

Marco Polo Marine’s revenue jumps 38% to S$20.3m in 4Q11

The group also recorded a higher effective tax rate of 28.4% due to higher contributions from Indonesia and Australia. Read ››

COSCO Corporation's Vice Chairman resigns

Jiang Li Jun will be replaced by Wu Zi Heng. Read ››

Ezion Holdings’ revenue down 8.1% to US$31.9m in 3Q11

However, Ezion still posted a steady quarter as its gross profit rose 27.3% to US$15.8m. Read ››

Swiber’s profit surges 93.1% to US$13.5m in 3Q11

As it had bagged a record number of contracts worth US$758m YTD. Read ››

Otto Marine President and Group Chief Executive Officer retires

Lee Kok Wah will serve as Advisor to Chairman and Group CEO effective 28 November 2011. Read ››