Post Reply
1681-1700 of 3003
GOOD news from upstream.....
krisluke ( Date: 01-Aug-2011 19:07) Posted:
Today, closed $5.40 hints sideway...
Waiting EQ2 announcement tomorrow. |
|
Today, closed $5.40 hints sideway...
Waiting EQ2 announcement tomorrow.
SINGAPORE, 1 August 2011
Singapore oil rig builder Sembcorp Marine said today it has exercised its option to increase its stake in Sembmarine Kakinada, India to 40 per cent from 19.9 per cent.
Sembmarine Kakinada is a joint venture between Sembcorp Marine’s subsidiary Sembawang Shipyard and Kakinada Seaports and the initial investment was US$50 million (RM147 million). – Reuters
Monday 1 august 2011
Tuesday 2 august 2011
Sembmar EQ2 on Tuesday
Do watch $5.45... ... Support at $5.30....
OR
5. Dyna mac holding... ...
NB: I'm not shaping a mould the future for singapore generation.
krisluke ( Date: 29-Jul-2011 23:16) Posted:
 Is there a demand? ?? WILL SINGAPORE VISION BE PRECISE AND ACCURATE ? ??????????
Support relys on upstream as well as downstream....
On very simple question? ??
Who is capable to construct and repair gas vessel in singapore shipyard context?
1. keppel corp
2. Sembmar
3. Singapore technologies marine trade
4. jaya holding ? ??
ANS:_____________
|
|
Is there a demand? ?? WILL SINGAPORE VISION BE PRECISE AND ACCURATE ? ??????????
Support relys on upstream as well as downstream....
On very simple question? ??
Who is capable to construct and repair gas vessel in singapore shipyard context?
1. keppel corp
2. Sembmar
3. Singapore technologies marine trade
4. jaya holding ? ??
ANS:_____________
Foster Wheeler To Provide PMC Services for Singapore Project
Foster Wheeler AG
Monday, February 08, 2010
Foster Wheeler AG announced Monday that a subsidiary of its Global Engineering and Construction Group has been awarded a contract to provide project management consultancy (PMC) services to Singapore LNG Corporation Pte Ltd (SLNG), a fully owned subsidiary of the Energy Market Authority of Singapore, in support of the development of the LNG terminal to be located on the southwestern part of Jurong Island, Singapore.
SLNG owns and oversees the LNG terminal's development. The terminal, which will have an initial capacity of 3.5 million tonnes per annum (Mtpa), with provisions for expansion to 6 Mtpa, is targeted to be ready for start-up in 2013.
The terms of the contract were not disclosed, and the contract value will be included in Foster Wheeler's first-quarter 2010 bookings.
SLNG and Foster Wheeler will jointly manage the engineering, procurement and construction (EPC) contractor through an " Integrated Project Management Team" approach, which will allow SLNG to be fully involved in the management of the design and construction activities.
" Foster Wheeler is a worldwide engineering company and has an excellent reputation in the energy sector. We are combining the strengths of SLNG and Foster Wheeler to take on the complex task of managing the EPC contract through to completion. Through this seamless and integrated approach, we will work towards the timely start-up of the LNG terminal," said Neil McGregor, SLNG's executive director.
" We are delighted to have been selected as Project Management Consultant for this prestigious project," said Franco Anselmi, chief executive officer of Foster Wheeler Asia Pacific. " This project, Singapore's first LNG terminal, is of major importance as it will help ensure the security of Singapore's energy future. We look forward to working with SLNG, drawing upon our extensive project experience in Singapore and our considerable global technical expertise in LNG."
Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 14,000 professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company's Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, environmental, pharmaceuticals, biotechnology and healthcare industries. The company's Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland.
http://www.downstreamtoday.com
SINGAPORE: The Singapore LNG Corporation or SLNG has appointed a new chairman, board of directors and CEO to begin its transition from project development and move towards a full-fledged LNG business enterprise.
Chairing the board of the firm is Bob Tan, who's the chairman of Jurong Engineering and the Institute of Technical Education of Singapore.
Taking on the role of CEO of SLNG is Neil McGregor, who will follow on from his previous role as SLNG's executive director.
Prior to his appointment to SLNG, Mr McGregor served as the managing director of PowerSeraya, one of Singapore's largest power generation companies.
He will also sit on the firm's board.
Other members of SLNG's Board are Chong Yee Leong, partner at law firm Rajah & Tann Koh Kheng Siong, audit committee chairman at SIA Engineering Company Ong Boon Hwee, COO of Singapore Power and Lawrence Wong, CEO of Energy Market Authority.
Announcing the appointments Tuesday, EMA says with the leadership team in place, SLNG will now begin its transition from project development and move towards a full-fledged business enterprise.
It will be ready in 2013
31 Mar 2010 - A groundbreaking ceremony was held for Singapore's LNG terminal at Jurong Island. This LNG terminal facility will be Asia's first open- access multi-user terminal, capable of importing and re-exporting LNG from multiple suppliers.
08 Feb 2010 - The Singapore LNG Corporation Pte Ltd (SLNG) has awarded the contract for the engineering, procurement and construction (EPC) of Singapore's LNG terminal to Samsung C& T Corporation (Samsung).
08 Feb 2010 - The Singapore LNG Corporation Pte Ltd (SLNG) has awarded the contract for the engineering, procurement and construction (EPC) of Singapore's LNG terminal to Samsung C& T Corporation (Samsung).
Click to download PDF > |
08 Feb 2010 - The Singapore LNG Corporation Pte Ltd (SLNG) has awarded the contract for the engineering, procurement and construction (EPC) of Singapore's LNG terminal to Samsung C& T Corporation (Samsung).
Click to download PDF > |
VS
SEMBCORP
VS
Baker Technologies
FOR ONE " FUNNY" GOAL
THE POWERLESS PPL Shipyard
!! Nothing at all to think abt, scm will control PPL 100% in due time
Davinder Singh
Drew & Napier CEO
Sembcorp Marine says refused to be ‘blackmailed’ over PPL stake
Sembcorp Marine said it refused to be “blackmailed” into offering a higher price than earlier agreed for the remaining 15% of PPL Shipyard it didn’t already own, Sembcorp’s lawyer said at a trial in Singapore.
“This is a tale of how the temptation of lucre was allowed to erase a promise to engage in fair dealing,” Davinder Singh, representing Sembcorp, said at the start of the proceedings at the Singapore High Court today.
Sembcorp, the world’s second-biggest builder of oil rigs, sued PPL Holdings Pte in May 2010 for refusing to accept a $59.4 million offer for the 15% stake. Sembcorp claimed it had the right to buy the stake before Chinese rival Yangzijiang Shipbuilding (Holdings), which agreed to acquire PPL Holdings.
Yangzijiang competes with Sembcorp in rig construction. Oil companies, including Royal Dutch Shell Plc and Petroleo Brasileiro SA, plan to spend billions of dollars for floating drilling units as they move into unchartered areas.
PPL Holdings had promised to sell its stake in PPL Shipyard to Sembcorp at an agreed price but failed to do so, according to the lawsuit. Instead, PPL Holdings went to a competitor and passed on confidential information so they could secure a higher price than what had been agreed with Sembcorp, Singh said.
Baker Technology agreed to sell its unit PPL Holdings to a group led by Yangzijiang, which operates yards in China’s Jiangsu province, for US$155 million ($187 million) in April 2010. The amount was later cut to US$116.3 million. The sale included the 15% stake in PPL Shipyard.
PPL Holdings then went to Sembcorp for a matching offer, Singh said. Singapore-based Sembcorp claimed a breach of contract.
PPL’s RESPONSE
“This action chronicles Sembcorp Marine’s contrived and unmeritorious attempts to unilaterally rewrite its rights and obligations,” according to opening remarks by PPL Holdings’ lawyers Kenneth Tan and N. Sreenivasan. “Sembcorp Marine did its utmost to scuttle” the sale, including trying to scare away Yangzijiang, the lawyers said.
Baker, a Singapore-based maker of equipment for the oil and gas industry, has called Sembcorp’s allegations of a breach “baseless.”
The case is Sembcorp Marine Ltd. v PPL Holdings Pte S351/2010 in the Singapore High Court.
FYI
krisluke ( Date: 18-Apr-2010 00:01) Posted:
|
MEDIA RELEASE – FOR IMMEDIATE RELEASE
Yangzijiang aiming to enter the robust offshore sector
Offered to acquire PPL Holdings by intending to take a 50.1% stake
Rest 45% and 4.9% in PPL Holdings would be taken up respectively by strategic partner, a Middle East investor and Yangzijiang’s Non-Executive Director, Mr Yu Kebing
Total consideration for PPL Holdings at US$155 million
Yangzijiang would place 83.555 million shares at S$1.295 per share to the Middle East investor to fund its proposed stake of 50.1% in PPL Holdings
SINGAPORE – 17 April 2010 – Yangzijiang Shipbuilding (Holdings) Limited
The Board of Directors of Yangzijiang is pleased to announce that it has entered into a joint investment agreement (dated 15 April 2010) with the Investor and Mediterranean Success Group ("MSG") (wholly owned by the Group’s Non-Executive Director, Mr Yu Kebing) to acquire PPL Holdings Pte Ltd ("PPLH"). Post the completion of the acquisition, Yangzijiang, the Investor and MSG would be having shareholding stakes in the proportions of 50.1%, 45% and 4.9% respectively in PPLH.
Yangzijiang has issued a binding letter of offer ("Letter of Offer") (dated 16 April 2010) to Baker Technology Limited ("Baker") pursuant to which the Group has made an offer to
acquire the entire issued and paid-up share capital of PPLH. Currently, Baker holds 100% of the shareholding in PPLH. ("Yangzijiang" or "the Group" or "扬子江船业控股有限公司"), one of PRC’s leading and most enterprising shipbuilder listed on the SGX Main Board, on 15 April 2010 entered into a placement agreement with a Middle East investor ("Investor") in relation to the placement of 83,555,000 new ordinary shares in the capital of Yangzijiang at the issue price of S$1.295 per new share and the proceeds are to be applied by Yangzijiang for the proposed acquisition as highlighted below.
Funding the 50.1% stake in PPLH
At S$1.295 per new share, Yangzijiang would be issuing 83,555,000 new ordinary shares to the Middle East investor and garner a capital of US$77,655,000.
Subject to acceptance of the Letter of Offer by Baker and completion of the acquisition, the entire placement proceeds shall be used by Yangzijiang for the purpose of satisfying the purchase consideration payable by Yangzijiang for its 50.1% proportion of the acquisition of PPLH.
Details of acquisition
PPLH holds an aggregate direct and indirect 15% stake in PPL Shipyard Pte Ltd ("PPL Shipyard"). The balance 85% is held by Sembcorp Marine Limited ("SML").
PPL Shipyard is engaged in the business of design and construction of offshore drilling rigs from shallow water to deep water. Upon acceptance of the Letter of Offer and subject to completion, the key management of PPL Shipyard, Messrs Benety Chang and Anthony Sabastian Aurol, have undertaken to continue in their key executive positions until 31 December 2013.
The purchase consideration for PPLH of US$155 million is arrived at taking into account,
inter alia , the net book value amount of US$343,553,000 of PPL Shipyard for FY2009.
Rationale
The Board of Yangzijiang is of the view that this strategic acquisition would be in the best interest of the Group as Yangzijiang’s post-Acquisition involvement in PPL Shipyard's business for the design and construction of offshore drilling rigs would add to, and further strengthen Yangzijiang's capabilities in this area and further the Group's development and competency strategies.
--The End--
ABOUT BAKER TECHNOLOGY LIMITED (Bloomberg Ticker: BTL SP)
Listed on SGX-ST mainboard, Baker Technology Limited (Baker Tech) is a leading manufacturer and provider of specialised equipment and services for the oil & gas industry. Its core business is in the design and construction of a wide range of equipment and components for use in the offshore environment. These include offshore pedestal cranes, anchor winches, skidding systems,
jacking systems and raw water tower structures. It also provides services such as project management, engineering services, quality assurance, and construction supervision.
Baker Tech has a 49% interest in York Transport Equipment (Asia) Pte Ltd, a manufacturer and distributor of trailer axles and related components. It also holds a 15% stake in PPL Shipyard which designs and constructs offshore rigs. PPL’s Pacific Class 375 jack-up rigs are well accepted in the market as rigs of choice. Baker Tech has market presence in China, the Middle East, Asia and USA.
For more information please visit the website at: www.bakertech.com.sg
ABOUT YANGZIJIANG SHIPBUILDING (HOLDINGS) LIMITED (Bloomberg Ticker: YZJ SP)
Yangzijiang Shipbuilding (Holdings) Limited is the largest non-state-owned publicly listed shipbuilder by virtue of manufacturing capability in the PRC. The core business is shipbuilding of commercial vessels ranging from containerships, bulk cargo carriers and multi-purpose cargo vessels. The Group owns two shipbuilding bases across the Yangtze River, across each other.
Located in Jiangyin city in the Jiangsu province of PRC, the old shipyard spans approximately 800 metres of deep-water coastline and covers an area of approximately 200,000 square metres (excluding the coastal area).
The new shipyard is located in Jingjiang city and has 1,940 metres of deep-water coastline, a production area of 1,508,857 square metres and a dry dock that can accommodate two 100,000 DWT vessels and two half 100,000 DWT vessels at one time.
For more information please visit the website at: www.yzjship.com
Issued for and on behalf of Yangzijiang Shipbuilding (Holdings) Limited
By Financial PR Pte Ltd
For more information, please contact:
Romil SINGH, romil@financialpr.com.sg
Kathy ZHANG, kathy@financialpr.com.sg
Tel: (65) 6438 2990
Fax: (65) 6438 0064
|
|
Two law suits announced in last than a month period.
I'm REALLY IMPRESSED by the aggressiveness of the board of dirextors (Do TAKE a gentle note that dirextors here means OLD BIRD).
I've a quite an indepth analyse the scenario of the WHOLE PICS
To make it simple, it just abt $ ( $ here means business opportunities for growth).
DnB NOR upgrades Sembcorp Marine to hold from sell
DnB NOR has upgraded Singapore oil rig builder Sembcorp Marine (SCMN.SI) to hold from sell and raised its target price to $5.30 from $5.00.
DnB NOR said Sembcorp has beaten its margin expectations for the past four quarters up to January-March period, and the second-quarter results of the firm’s rival oil rig builder Keppel Corp (KPLM.SI) last week suggest uptrend in margins.
Sembcorp will report its second-quarter earnings on Aug 2.
Sembcorp has secured nearly $2.2 billion of new orders year-to-date compared with Keppel’s $7.4 billion, DnB NOR said.
It added that across the industry, the order momentum in the second half is expected to be slower than the first half due to tighter yard slots for 2013 delivery.
But Sembcorp could benefit as it still has available slots for delivery in the second half of 2013, DnB Nor said.
The stock has risen around 1% so far this year.
this big ship is rather heavy nowadays..
not really moving..
krisluke ( Date: 28-Jul-2011 12:20) Posted:
Sembcorp Marine: Has started lawsuit against PPL Hldgs over a dispute from Baker Tech's move to sell PPLH to Yangzijiang for US$155m. YZJ wld have gained a 15% stake in PPL Shipyard from the sale, but SMM which owns the bal 85% argued that it had 1st right of refusal to the 15% stake.
Following YZJ's offer, SMM has made an offer to buy the 15% stake at $59.4m. Both parties are also disputing the split of power where the yard is concerned, given that there were 6 SembMar directors on the yard's board vs 3 from PPLH before the lawsuit was filed. Since lawsuit was filed early last yr, YZJ's offer has fallen to US$116m. SMM is asking the High Court to make PPLH transfer the remaining 3m shares in the shipyard to SMM against its offer of $59.4m
Wow Proactive Approach ! !! |
|
Sembcorp Marine: Has started lawsuit against
PPL Hldgs over a dispute from Baker Tech's move to sell PPLH to Yangzijiang for US$155m. YZJ wld have gained a 15% stake in PPL Shipyard from the sale, but SMM which owns the bal 85% argued that it had 1st right of refusal to the 15% stake.
Following YZJ's offer, SMM has made an offer to buy the 15% stake at $59.4m. Both parties are also disputing the split of power where the yard is concerned, given that there were 6 SembMar directors on the yard's board vs 3 from PPLH before the lawsuit was filed. Since lawsuit was filed early last yr, YZJ's offer has fallen to US$116m. SMM is asking the High Court to make PPLH transfer the remaining 3m shares in the shipyard to SMM against its offer of $59.4m
Wow Proactive Approach ! !!
thanks krisluke sifu. Both SMM and STX is in my watchlist.
SG O& M: CS has sector report. Note that Petrobras approves 5yr investment plan of US$225b and believe KepCorp and SembMarine remain well positioned to win significant orders from Petrobras’ re-launched tender for 28 deepwater rigs.
Expect both yards to be awarded contracts worth US$7b combined, providing further upside to order forecasts.
With new yards under construction in Brazil, Kepcorp and STX OSV are likely to benefit from increased tendering activity for offshore support vessels built locally. Maintain O/p on Kepcorp (TP $14.60), SMM (TP $6.60) and STX OSV (TP $1.80).
