(http://www.augustenergy.biz/, February 22, Monday) --- Article from EnergyAsia ...
(EnergyAsia, February 12 2010, Friday) --- The International Bunker Industry Association (IBIA) said an EU directive requiring vessels to use low-sulphur fuel in European ports took effect on January 1, and has not been postponed as recently rumoured.
IBIA said EU Directive 2005/33/EC prescribes that from January 1, 2010, member states must take necessary steps to ensure that ships at berth in EU ports do not use marine fuels with a sulphur content exceeding 0.1% by mass. There have been rumours that this deadline might have been postponed due to potential safety risks involving the switchover on ships using unmodified boilers.
Ian Adams, IBIA’s chief executive, said: “We have heard various rumours, including one which suggests that the deadline for implementation of the EU directive has been postponed by six months. Nothing could be further from the truth. The directive came into force on January 1 and applies to all ships operating to EU ports.
“Ships are not exempt on the ground that the fuel changeover is unsafe because modifications have not been made to its boilers, or to the ship itself. Clearly in such cases the expectation is not that the ship should engage in an unsafe practice but simply that it will not berth. Similarly, there is no automatic dispensation for ships which have made arrangements to carry out the necessary modifications but have not yet implemented them.
“Although the European Commission has signified its awareness of the potential dangers associated with the switchover to low-sulphur fuel while in port, and has recommended to member states that they enforce the regulations with a degree of flexibility for a transitional period in those cases where there is detailed evidence of the existence of an approved plan for vessel and/or boiler modification, the directive is nevertheless now in force and EU member states are obliged to enforce it. This means that all non-compliant ships are at risk.”
IBIA stresses that operators of vessels bound for an EU port unable to comply with the EU directive should coordinate with the local authorities before entering port to take appropriate control measures while the ship is berthed.
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Monday, February 22, 2010
Monday, February 8, 2010
CHINA: Tianjin shipping summit explored tech advances, outlook for 2010
(http://www.augustenergy.biz/, February 8, Monday --- Article from EnergyAsia ...
(EnergyAsia, February 3 2010, Wednesday) --- More than 100 government officials, international executives, technical directors and maritime industry leaders attended the International Maritime and Shipbuilding Outlook Summit China 2010 was held last January 14-15 in the northeastern Chinese city of Tianjin.
Organised by business conference and professional training provider Noppen Shanghai Co Ltd and supported by the Tianjin People’s Municipal Government, the event was part of the city’s efforts to create an international shipping centre to serve northeastern, central and western Asia. For two days, the delegates networked and exchanged information on the latest issues facing the shipping and shipbuilding industries.
The Port of Tianjin is strategically located at the locus of Bohai Bay Rim, the logistics hub of the Tianjin Binhai New District, which is designated by the central government to become China’s third major economic growth driver after Shenzen and Shanghai. The port is expected to handle the most advanced container ships, bulkers, and ocean liners by mid-2010.
Ren Xuefeng, vice-mayor of Tianjin, welcomed the summit’s participants and encouraged them to strengthen their business relationships with Tianjin.
Opening the event was Zhao Shangwu, director general of Tianjin Municipal Office of Port Service, who provided an introduction to Tianjin as well as north China’s shipbuilding industry outlook.
Discussing dry cargo bulk markets, Philip Williams, Asia-Pacific general manager of The Baltic Exchange, likened the present oversupply of ships to the post WWII shipping market, explaining that this will even itself out in time.
Michael Yuen, general manager of IMC Pan Asia, spoke on the shipping markets, pointing out the industry will always have its ‘peaks and troughs’ which we just need to ride out. Discussing Chinese industrial development policies and a forecast of the shipping market was Sun Wei, vice researcher at Integrated Transportation Research Center, NDRC.
Jean Philippe Roman, technical director at Total Lubmarine, provided an overview of Total lubricants’ environmental contribution in the shipping industry, while Chen Jiaben, director of China Welding Association and secretary general of the National Shipbuilding Industry spoke on the development and innovation of welding technology shipbuilding in China.
Shi Renming, managing director at ESAB, presented a paper on cutting machine applications in shipyards, while Lin Xiandong, executive deputy secretary general of The Chinese Society of Naval Architects and Marine Engineering, discussed technical advances in the shipbuilding industry.
The event also heard Mao Boke, vice secretary general of Shanghai International Shipping Institute, Li Zhonggang, deputy general manager of China Ship Design & Research Center Co Ltd, and Philipho Yuan, director of Asian sales at The Maritime Executive. Other topics discussed included the use of digital shipbuilding technology in ship construction, energy-saving and emission-reduction technologies, and the outlook for the shipping industry for 2010.
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(EnergyAsia, February 3 2010, Wednesday) --- More than 100 government officials, international executives, technical directors and maritime industry leaders attended the International Maritime and Shipbuilding Outlook Summit China 2010 was held last January 14-15 in the northeastern Chinese city of Tianjin.
Organised by business conference and professional training provider Noppen Shanghai Co Ltd and supported by the Tianjin People’s Municipal Government, the event was part of the city’s efforts to create an international shipping centre to serve northeastern, central and western Asia. For two days, the delegates networked and exchanged information on the latest issues facing the shipping and shipbuilding industries.
The Port of Tianjin is strategically located at the locus of Bohai Bay Rim, the logistics hub of the Tianjin Binhai New District, which is designated by the central government to become China’s third major economic growth driver after Shenzen and Shanghai. The port is expected to handle the most advanced container ships, bulkers, and ocean liners by mid-2010.
Ren Xuefeng, vice-mayor of Tianjin, welcomed the summit’s participants and encouraged them to strengthen their business relationships with Tianjin.
Opening the event was Zhao Shangwu, director general of Tianjin Municipal Office of Port Service, who provided an introduction to Tianjin as well as north China’s shipbuilding industry outlook.
Discussing dry cargo bulk markets, Philip Williams, Asia-Pacific general manager of The Baltic Exchange, likened the present oversupply of ships to the post WWII shipping market, explaining that this will even itself out in time.
Michael Yuen, general manager of IMC Pan Asia, spoke on the shipping markets, pointing out the industry will always have its ‘peaks and troughs’ which we just need to ride out. Discussing Chinese industrial development policies and a forecast of the shipping market was Sun Wei, vice researcher at Integrated Transportation Research Center, NDRC.
Jean Philippe Roman, technical director at Total Lubmarine, provided an overview of Total lubricants’ environmental contribution in the shipping industry, while Chen Jiaben, director of China Welding Association and secretary general of the National Shipbuilding Industry spoke on the development and innovation of welding technology shipbuilding in China.
Shi Renming, managing director at ESAB, presented a paper on cutting machine applications in shipyards, while Lin Xiandong, executive deputy secretary general of The Chinese Society of Naval Architects and Marine Engineering, discussed technical advances in the shipbuilding industry.
The event also heard Mao Boke, vice secretary general of Shanghai International Shipping Institute, Li Zhonggang, deputy general manager of China Ship Design & Research Center Co Ltd, and Philipho Yuan, director of Asian sales at The Maritime Executive. Other topics discussed included the use of digital shipbuilding technology in ship construction, energy-saving and emission-reduction technologies, and the outlook for the shipping industry for 2010.
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Thursday, February 4, 2010
SINGAPORE: Kelvin Yeo appointed managing director at KPI Bridge Oil subsidiary
(http://www.augustenergy.biz/, February 4, Thursday --- Article from EnergyAsia ...
(EnergyAsia, February 2 2010, Tuesday) --- UK-based marine bunker broker and trader Bridge Oil has named Kelvin Yeo as managing director of its Singapore operations.
A bachelor of commerce degree holder with double majors in accounting and finance from the University of Western Australia, Mr Yeo has over 13 years professional experience in the marine, shipping and offshore oil & gas industries.
Mr Yeo’s most recent assignment was serving as vice-president for commercial & business development of a Singapore public-listed offshore engineering firm. He also served as commercial director of a towage business in Singapore, managed an oil tank terminal in Australia, and built an integrated supply chain solution in Indonesia with barges and bulk carriers.
Jan Obel, KPI Bridge Oil CEO, said: “We are very pleased to have such a seasoned marine professional joining our team. Kelvin has a proven track record of success in the marine industry, and an in-depth knowledge of the Asia market. This will serve him well as he works toward building our business in Asia.”
Bridge Oil Far East Pte Ltd is a fully owned subsidiary of KPI Bridge Oil Group. With a dedicated global team of 60 experienced professionals worldwide including more than 40 bunker brokers and traders, London-headquartered KPI Bridge Oil supplies bunker and lube oil to more than 2,800 harbours worldwide for the international shipping industry.
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(EnergyAsia, February 2 2010, Tuesday) --- UK-based marine bunker broker and trader Bridge Oil has named Kelvin Yeo as managing director of its Singapore operations.
A bachelor of commerce degree holder with double majors in accounting and finance from the University of Western Australia, Mr Yeo has over 13 years professional experience in the marine, shipping and offshore oil & gas industries.
Mr Yeo’s most recent assignment was serving as vice-president for commercial & business development of a Singapore public-listed offshore engineering firm. He also served as commercial director of a towage business in Singapore, managed an oil tank terminal in Australia, and built an integrated supply chain solution in Indonesia with barges and bulk carriers.
Jan Obel, KPI Bridge Oil CEO, said: “We are very pleased to have such a seasoned marine professional joining our team. Kelvin has a proven track record of success in the marine industry, and an in-depth knowledge of the Asia market. This will serve him well as he works toward building our business in Asia.”
Bridge Oil Far East Pte Ltd is a fully owned subsidiary of KPI Bridge Oil Group. With a dedicated global team of 60 experienced professionals worldwide including more than 40 bunker brokers and traders, London-headquartered KPI Bridge Oil supplies bunker and lube oil to more than 2,800 harbours worldwide for the international shipping industry.
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Wednesday, February 3, 2010
CHINA: Yantai Raffles Shipyard marks first ship delivery for 2010
(http://www.augustenergy.biz/, February 3, Wednesday --- Article from EnergyAsia ...
(EnergyAsia, February 2 2010, Tuesday) --- Leading Chinese rig-builder Yantai Raffles Shipyard Ltd has delivered its first vessel for the year with the completion of a new-built Jebsens ‘Vestnes’ self-unloading bulk carrier.
The handy-size vessel measures 175 meters in length and is designed for loading 30,000 tonnes of heavy materials such coal and rocks.
Brian Chang, Yantai Raffles’ deputy chairman, said: “We are very proud to announce our first delivery of 2010. This is a very memorable day for both Yantai Raffles and for Jebsens who have worked tirelessly over the past few years on this project. We are confident we can continue to build a long last relationship with Jebsens in the future.”
On its maiden voyage delivering cargo from northern China to Vietnam, the state-of-the-art vessel will be operated by Jebsens Management AS, a complete ship services provider offering technical management, crew management, dry-docking services, conversion/repair supervision and consulting, new-building supervision, safety and quality assurance inspections and other services to international ship owners.
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(EnergyAsia, February 2 2010, Tuesday) --- Leading Chinese rig-builder Yantai Raffles Shipyard Ltd has delivered its first vessel for the year with the completion of a new-built Jebsens ‘Vestnes’ self-unloading bulk carrier.
The handy-size vessel measures 175 meters in length and is designed for loading 30,000 tonnes of heavy materials such coal and rocks.
Brian Chang, Yantai Raffles’ deputy chairman, said: “We are very proud to announce our first delivery of 2010. This is a very memorable day for both Yantai Raffles and for Jebsens who have worked tirelessly over the past few years on this project. We are confident we can continue to build a long last relationship with Jebsens in the future.”
On its maiden voyage delivering cargo from northern China to Vietnam, the state-of-the-art vessel will be operated by Jebsens Management AS, a complete ship services provider offering technical management, crew management, dry-docking services, conversion/repair supervision and consulting, new-building supervision, safety and quality assurance inspections and other services to international ship owners.
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Thursday, January 28, 2010
SINGAPORE: Bunker fuel sales up 4.2% to hit record 36.4 million tonnes in 2009
(http://www.augustenergy.biz/, January 28, Thursday --- Article from EnergyAsia ...
(EnergyAsia, January 21 2010, Thursday) --- The world’s top bunkering port once again set a new annual sales record of 36.386 million tonnes for 2009, growing 4.2% from 34.936 million tonnes in 2008, according to official data.
The Maritime and Port Authority of Singapore (MPA) said sales were particularly strong in December, surging by 10.4% from the previous month to its second highest level for the year.
December sales reached 3.181 million tonnes compared with November’s 2.882 million tonnes, and just below the all-time monthly high of 3.227 million tonnes reached in May. The latest sales volume also represented a whopping 16.3% rise from December 2008.
Singapore’s booming bunker sales have once again defied doomsday forecasts and the bearish performance in the shipping industry, which has been hard hit by the global economic recession.
The industry attributed the record performance to an increased number of larger ships calling at Singapore’s port to purchase bunker fuel which have consistently been the cheapest in the region. Ironically, in the depressed economic climate, Singapore has gained as ship owners and operators have chosen to load up on fuel and other supplies at its port because of its superior economics over other ports in the region.
The MPA also reported that Singapore’s annual vessel tonnage has risen 10.1% year-on-year to 1.78 trillion gross tonnes (GT), while the total number of ships arriving at port decreased 0.8% from 2008 to 130,575.
Vessel arrivals for December rose to 10,993 or 152,197 million GT, a 5% increase from November.
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(EnergyAsia, January 21 2010, Thursday) --- The world’s top bunkering port once again set a new annual sales record of 36.386 million tonnes for 2009, growing 4.2% from 34.936 million tonnes in 2008, according to official data.
The Maritime and Port Authority of Singapore (MPA) said sales were particularly strong in December, surging by 10.4% from the previous month to its second highest level for the year.
December sales reached 3.181 million tonnes compared with November’s 2.882 million tonnes, and just below the all-time monthly high of 3.227 million tonnes reached in May. The latest sales volume also represented a whopping 16.3% rise from December 2008.
Singapore’s booming bunker sales have once again defied doomsday forecasts and the bearish performance in the shipping industry, which has been hard hit by the global economic recession.
The industry attributed the record performance to an increased number of larger ships calling at Singapore’s port to purchase bunker fuel which have consistently been the cheapest in the region. Ironically, in the depressed economic climate, Singapore has gained as ship owners and operators have chosen to load up on fuel and other supplies at its port because of its superior economics over other ports in the region.
The MPA also reported that Singapore’s annual vessel tonnage has risen 10.1% year-on-year to 1.78 trillion gross tonnes (GT), while the total number of ships arriving at port decreased 0.8% from 2008 to 130,575.
Vessel arrivals for December rose to 10,993 or 152,197 million GT, a 5% increase from November.
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Monday, January 25, 2010
Shipping confidence levels hold up as concern persists about newbuilding glut
(http://www.august.energy.biz/, January 19, Tuesday) --- Article from Merlin Communications ...
Overall confidence levels in the shipping industry have stabilised, according to the latest Shipping Confidence survey by leading shipping account and adviser Moore Stephens, although a sustainable recovery in the markets still appears to be some way off. And the depression in freight rates seems likely to persist amid continued concerns about the level of newbuildings set to enter the market over the next two years.
On a scale of 1 to 10, the average confidence level expressed by respondents in November 2009 in the markets in which they operate was 5.7, the same as in the previous survey in August 2009, which itself was the highest level recorded for twelve months. But this is still significantly down on the 6.8 recorded in the first Moore Stephens survey, in May 2008.
Charterers showed the most significant drop in confidence over the latest three-month period, down from 5.8 to 5.6, while confidence among brokers increased slightly, from 5.6 to 5.7. Confidence among owners remained unchanged at 5.7, while managers dropped from 5.9 to 5.8. Geographically speaking, the most significant changes were evident in North America (down from 5.8 to 5.2) and Asia (5.9 to 5.7). Confidence in Europe continued its recent upward trend, from 5.4 to 5.6.
Once again, the survey revealed a continuing level of concern over the newbuilding orderbook. “There are too many ships already in operation, and even more to come, so there will be very little scope to increase freight rates,” said one respondent, echoing the thoughts of a number of others who responded to the survey. Other comments included, “There is only enough cash to fund half the orderbook, so something has to give”, and, “The massive orderbook is a great cause for concern”. One respondent said that the key to the massive orderbook crisis was for “the banks not to finance any more projects and for shipyards to agree to delays in delivery dates”.
For the fourth successive survey, respondents identified demand trends as the most important factor likely to affect their business performance over the coming year, followed by competition and the cost and availability of finance.
Respondents’ expectations of making a major investment or significant development over the next twelve months remained unchanged at 5.1 overall out of a possible maximum of 10.0. Owners were the most confident in this regard, scoring 5.4, although this represented a marginal drop on the figure recorded in the last survey. Confidence was down in Asia, from 5.4 to 5.0, and marginally up in Europe and Latin America.
Owners, charterers, managers and brokers all expected finance costs to rise over the next twelve months, the overall percentage for all respondents in this regard rising 3 percentage points from 45 to 48%, having fallen one percentage point at the time of the previous survey. The biggest percentage rise was recorded by ship managers, from 46% to 51%.
A geographical divide was also evident, with Asia and Europe anticipating increases (11 percentage points more on the part of Asia) and the Americas expecting costs to fall, in the case of Latin America by no less than 14 percentage points.
So far as the freight markets are concerned, there was a general consensus among respondents that there was very little scope for increasing rates at the moment. Indeed, there was a fall in expectation overall in each of the three tonnage categories covered by the survey that rates would increase over the coming twelve months.
In the tanker market, the number of respondents overall who expected rates to go up fell from 45% to 42% this time, with the most significant shift in opinion being expressed by charterers, where there was a 13 percentage point drop (to 22%) in the number of respondents who thought rates would go up. For owners, expectation levels of an increase were down from 46 to 39% on last time.
In the dry bulk market, meanwhile, the overall expectation of higher rates was down from 41% to 38%, with ship managers alone in increasing, from 41 to 49%, their level of expectation of increases.
Finally, in the container ship sector, 26% of respondents overall, compared to 35% last time, expected rates to rise over the coming twelve months.
Moore Stephens shipping partner, Richard Greiner says, “It is gratifying to see that shipping confidence has been sustained at existing levels over the past three months, having progressively increased over the course of the year. However, confidence is somewhat fragile at present. This is not surprising given the number of newbuildings set to enter the market over the next two years to compete for a volume of trade which, given the state of the world economy, does not seem likely to be able to sustain a significantly larger world fleet. Scrapping and redeployment will take care of some of the over-supply, but we will doubtless see less welcome forms of contraction, and more newbuilding cancellations and delays. As always, well-developed and sustainable business plans will continue to be prerequisites for those seeking finance from the banks.
“It is significant that the survey revealed that respondents in Asia anticipated a downturn in new investment over the coming twelve months, and that Asia also led the way in terms of expecting a big increase in finance costs. Given what has already been invested in the region, in shipyards and elsewhere, this is hardly a surprise. It was notable, too, that operating costs featured more prominently in respondents’ answers this time as a significant factor likely to influence performance over the coming year, given the findings of the recent Moore Stephens future operating costs survey.”
The Moore Stephens Shipping Confidence Survey includes responses from key players worldwide in the international shipping industry to a targeted, web-based survey by the Moore Stephens Shipping Industry Group. Responses were received from owners, charterers, brokers, advisers, managers and others.
Moore Stephens LLP is noted for a number of industry specialisations and is widely acknowledged as a leading shipping and insurance adviser. Moore Stephens LLP is a member firm of Moore Stephens International Limited, one of the world's leading accounting and consulting associations, with 647 offices of independent member firms in 98 countries employing 21,224 people. Fee income increased in 2008 by US$353 million to US$2,237 million, a growth rate of 18.7%.
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Overall confidence levels in the shipping industry have stabilised, according to the latest Shipping Confidence survey by leading shipping account and adviser Moore Stephens, although a sustainable recovery in the markets still appears to be some way off. And the depression in freight rates seems likely to persist amid continued concerns about the level of newbuildings set to enter the market over the next two years.
On a scale of 1 to 10, the average confidence level expressed by respondents in November 2009 in the markets in which they operate was 5.7, the same as in the previous survey in August 2009, which itself was the highest level recorded for twelve months. But this is still significantly down on the 6.8 recorded in the first Moore Stephens survey, in May 2008.
Charterers showed the most significant drop in confidence over the latest three-month period, down from 5.8 to 5.6, while confidence among brokers increased slightly, from 5.6 to 5.7. Confidence among owners remained unchanged at 5.7, while managers dropped from 5.9 to 5.8. Geographically speaking, the most significant changes were evident in North America (down from 5.8 to 5.2) and Asia (5.9 to 5.7). Confidence in Europe continued its recent upward trend, from 5.4 to 5.6.
Once again, the survey revealed a continuing level of concern over the newbuilding orderbook. “There are too many ships already in operation, and even more to come, so there will be very little scope to increase freight rates,” said one respondent, echoing the thoughts of a number of others who responded to the survey. Other comments included, “There is only enough cash to fund half the orderbook, so something has to give”, and, “The massive orderbook is a great cause for concern”. One respondent said that the key to the massive orderbook crisis was for “the banks not to finance any more projects and for shipyards to agree to delays in delivery dates”.
For the fourth successive survey, respondents identified demand trends as the most important factor likely to affect their business performance over the coming year, followed by competition and the cost and availability of finance.
Respondents’ expectations of making a major investment or significant development over the next twelve months remained unchanged at 5.1 overall out of a possible maximum of 10.0. Owners were the most confident in this regard, scoring 5.4, although this represented a marginal drop on the figure recorded in the last survey. Confidence was down in Asia, from 5.4 to 5.0, and marginally up in Europe and Latin America.
Owners, charterers, managers and brokers all expected finance costs to rise over the next twelve months, the overall percentage for all respondents in this regard rising 3 percentage points from 45 to 48%, having fallen one percentage point at the time of the previous survey. The biggest percentage rise was recorded by ship managers, from 46% to 51%.
A geographical divide was also evident, with Asia and Europe anticipating increases (11 percentage points more on the part of Asia) and the Americas expecting costs to fall, in the case of Latin America by no less than 14 percentage points.
So far as the freight markets are concerned, there was a general consensus among respondents that there was very little scope for increasing rates at the moment. Indeed, there was a fall in expectation overall in each of the three tonnage categories covered by the survey that rates would increase over the coming twelve months.
In the tanker market, the number of respondents overall who expected rates to go up fell from 45% to 42% this time, with the most significant shift in opinion being expressed by charterers, where there was a 13 percentage point drop (to 22%) in the number of respondents who thought rates would go up. For owners, expectation levels of an increase were down from 46 to 39% on last time.
In the dry bulk market, meanwhile, the overall expectation of higher rates was down from 41% to 38%, with ship managers alone in increasing, from 41 to 49%, their level of expectation of increases.
Finally, in the container ship sector, 26% of respondents overall, compared to 35% last time, expected rates to rise over the coming twelve months.
Moore Stephens shipping partner, Richard Greiner says, “It is gratifying to see that shipping confidence has been sustained at existing levels over the past three months, having progressively increased over the course of the year. However, confidence is somewhat fragile at present. This is not surprising given the number of newbuildings set to enter the market over the next two years to compete for a volume of trade which, given the state of the world economy, does not seem likely to be able to sustain a significantly larger world fleet. Scrapping and redeployment will take care of some of the over-supply, but we will doubtless see less welcome forms of contraction, and more newbuilding cancellations and delays. As always, well-developed and sustainable business plans will continue to be prerequisites for those seeking finance from the banks.
“It is significant that the survey revealed that respondents in Asia anticipated a downturn in new investment over the coming twelve months, and that Asia also led the way in terms of expecting a big increase in finance costs. Given what has already been invested in the region, in shipyards and elsewhere, this is hardly a surprise. It was notable, too, that operating costs featured more prominently in respondents’ answers this time as a significant factor likely to influence performance over the coming year, given the findings of the recent Moore Stephens future operating costs survey.”
The Moore Stephens Shipping Confidence Survey includes responses from key players worldwide in the international shipping industry to a targeted, web-based survey by the Moore Stephens Shipping Industry Group. Responses were received from owners, charterers, brokers, advisers, managers and others.
Moore Stephens LLP is noted for a number of industry specialisations and is widely acknowledged as a leading shipping and insurance adviser. Moore Stephens LLP is a member firm of Moore Stephens International Limited, one of the world's leading accounting and consulting associations, with 647 offices of independent member firms in 98 countries employing 21,224 people. Fee income increased in 2008 by US$353 million to US$2,237 million, a growth rate of 18.7%.
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Tuesday, January 5, 2010
SINGAPORE: Keppel FELS caps 2009 with record 13 rig deliveries
(http://www.AugustEnergy.biz/, January 05, Tuesday) --- Article from EnergyAsia ...
(http://www.energyasia.com/) --- Singapore’s Keppel FELS Limited said it has delivered a record number of 13 rigs, all within budget and on time, in 2009. For its performance deliveries of eight jackup rigs, four semisubmersible and one semisubmersible drilling tender rigs, customers rewarded the company with a S$2 million bonus. (US$1=S$1.4).
Wong Kok Seng, Keppel FELS executive director, said: “We were able to achieve this by consistently striving for operational excellence and innovation, backed by strong project management and close partnerships with our unions, customers, contractors and vendors.
“For 2010, we will remain focused on execution excellence and further improving efficiency to deliver superior solutions and services safely, on time, and within budget, while pursuing more projects.”
The company made its final delivery for the year on December 29. The West Vencedor was the sixth of seven KFELS semisubmersible drilling tenders (SSDT) delivered to Seadrill Limited, a Norway-based international offshore drilling contractor.
The rig will likely be deployed for development drilling operations off the coast of Angola under a five-year contract with Cabinda Gulf Oil Company Ltd, a subsidiary of Chevron Corporation, in the first quarter of 2010.
Alf Ragnar Løvdal, Seadrill’s senior vice president of tender rigs, said:
“Through Seadrill’s 15-year partnership with Keppel, we have launched the successful KFELS SSDTTM Series of drilling tenders and established a solid operational track record.
“We are pleased to receive West Vencedor early. It represents another quality project for us and demonstrates Seadrill’s and Keppel FELS’s dedication and excellent project management.
“With that, we are also confident that the seventh SSDT, currently under construction, will be another outstanding rig bearing the KFELS SSDTTM stamp as a superior drilling tender solution in the global market.”
Developed by Keppel’s Deepwater Technology Group, the KFELS SSDTTM is an outstanding application of engineering and technological advancement, contributing significantly to environmental protection, as well as the safety of operators involved in offshore platform development drilling.
Keppel Offshore & Marine Group has constructed four of Seadrill’s world-class jackups. Construction of the seventh SSDT and two jackups at Keppel FELS remains on schedule with deliveries expected between the second quarters of 2010 and 2011.
When completed, Keppel-built rigs will make up 35% of Seadrill’s premium fleet.
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(http://www.energyasia.com/) --- Singapore’s Keppel FELS Limited said it has delivered a record number of 13 rigs, all within budget and on time, in 2009. For its performance deliveries of eight jackup rigs, four semisubmersible and one semisubmersible drilling tender rigs, customers rewarded the company with a S$2 million bonus. (US$1=S$1.4).
Wong Kok Seng, Keppel FELS executive director, said: “We were able to achieve this by consistently striving for operational excellence and innovation, backed by strong project management and close partnerships with our unions, customers, contractors and vendors.
“For 2010, we will remain focused on execution excellence and further improving efficiency to deliver superior solutions and services safely, on time, and within budget, while pursuing more projects.”
The company made its final delivery for the year on December 29. The West Vencedor was the sixth of seven KFELS semisubmersible drilling tenders (SSDT) delivered to Seadrill Limited, a Norway-based international offshore drilling contractor.
The rig will likely be deployed for development drilling operations off the coast of Angola under a five-year contract with Cabinda Gulf Oil Company Ltd, a subsidiary of Chevron Corporation, in the first quarter of 2010.
Alf Ragnar Løvdal, Seadrill’s senior vice president of tender rigs, said:
“Through Seadrill’s 15-year partnership with Keppel, we have launched the successful KFELS SSDTTM Series of drilling tenders and established a solid operational track record.
“We are pleased to receive West Vencedor early. It represents another quality project for us and demonstrates Seadrill’s and Keppel FELS’s dedication and excellent project management.
“With that, we are also confident that the seventh SSDT, currently under construction, will be another outstanding rig bearing the KFELS SSDTTM stamp as a superior drilling tender solution in the global market.”
Developed by Keppel’s Deepwater Technology Group, the KFELS SSDTTM is an outstanding application of engineering and technological advancement, contributing significantly to environmental protection, as well as the safety of operators involved in offshore platform development drilling.
Keppel Offshore & Marine Group has constructed four of Seadrill’s world-class jackups. Construction of the seventh SSDT and two jackups at Keppel FELS remains on schedule with deliveries expected between the second quarters of 2010 and 2011.
When completed, Keppel-built rigs will make up 35% of Seadrill’s premium fleet.
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