Wednesday, March, 20, 2019 07:28:19

Keppel Shipyard has been awarded the contract to fabricate a new aft hull for a floating production storage & offloading vessel (FPSO).

Keppel Corp. has recently announced that its Keppel Offshore & Marine unit (Keppel O&M) has won new marine contracts having a combined value of $300 million. Keppel Singmarine, a subsidiary of Keppel O&M, has been contracted by Shturman Koshelev LLC for designing and constructing an ice-class LNG bunker, the company informed.

Reportedly, the bunker has to be completed by the fourth quarter of 2020 and will chartered for operations in the Baltic Sea to Gazpromneft Marine Bunker Ltd. According to Keppel O&M, till date it has delivered 11 ice-class vessels and is constructing the first LNG bunkering vessel in South-east Asia.

Additionally, Keppel Shipyard has been awarded the contract to fabricate a new aft hull for a floating production storage & offloading vessel (FPSO) by an international floating production vessels operator, the company mentioned. Keppel will begin working on the FPSO by the first quarter of 2019 and delivery is expected by 2020 end.

Further, 65 exhaust gas scrubber retrofit projects have also been tasked to Keppel Shipyard which involve project management, integration design engineering, installing and retrofitting, along with testing and commissioning works. The aforementioned contracts bagged by Keppel Corporation would not be having a material impact on its earnings per share or net tangible assets for the current financial year.

On a separate note, Keppel Telecommunications & Transportation (Keppel T&T) unit has also announced that it would be divesting complete stakes in two Thailand-based IT services companies, Anew Corporation and Advanced Research Group (ARG) for a combined total of nearly S$8.8 million (211.2 million baht).

Under the agreement, a subsidiary of Keppel T&T, Keppel Communications, would also be acquiring a 4% stake in business information service provider Business Online Public Company Limited from ARG for a value of 66.9 million baht. From these transactions, the group anticipates realizing a net gain of around $5.2 million in its profit and loss account.