• 2018 July 23 10:14

    Keppel Offshore & Marine bags contracts worth S$70M in Brazil and Singapore

    Keppel Offshore & Marine Ltd (Keppel O&M) has through its wholly-owned subsidiaries secured two contracts with a combined value of about S$70 million, the Company said in a media release.

    In Brazil, Keppel FELS Brasil Ltda (Keppel FELS Brasil) has been engaged by its long-standing customer, MODEC Offshore Production Systems (Singapore) Pte Ltd., part of the MODEC, Inc. group (collectively "MODEC"), to undertake the topside module fabrication and integration of the FPSO Carioca MV30, a Floating Production Storage and Offloading vessel (FPSO). This is the sixth FPSO collaboration between Keppel FELS Brasil and MODEC.

    In Singapore, Keppel Shipyard Ltd (Keppel Shipyard) has been entrusted with the conversion of a LNG Carrier to a Floating Storage and Re-gasification Unit (FSRU) by a leading global operator of oil and gas production vessels.

    Mr Chris Ong, CEO of Keppel O&M, said, "Keppel O&M has a strong track record in production, storage, gasification or liquefaction vessels, having successfully delivered more than 130 of such units over the years.

    "FPSO Carioca MV30 is our 11th FPSO project for Brazil, and as the most-established shipyard in Brazil, BrasFELS is well-positioned to deliver it to Keppel O&M's hallmark of executional excellence. Meanwhile, for Keppel Shipyard, this is our fourth FSRU conversion contract and is part of our comprehensive suite of solutions for the gas value chain."

    BrasFELS shipyard, Keppel FELS Brasil's facility in Angra dos Reis, Rio de Janeiro, Brazil, will commence the fabrication of the modules for the FPSO in 4Q 2018.

    When completed, FPSO Carioca MV30 will have the capacity to process 180,000 barrels of crude oil per day (bopd) and 212 million cubic metres of gas per day. The unit's storage capacity is 1.4 million barrels of crude oil.

    The FPSO will be deployed at the Sepia field, which is located in the pre-salt region in the Santos Basin, some 250 kilometres off the coast of Rio de Janeiro, Brazil.

    Mr Sateesh Dev, President & CEO of MODEC Pte Ltd., said, "Brazil continues to grow its production capacity to tap its significant oil and gas reserves. MODEC is committed to support the nation's energy aspirations, and are glad to have a good partner in Keppel Group to support us in this journey. Indeed, BrasFELS has been our choice shipyard in Brazil because of their reliability, cost-efficiency and capability to meet our needs."

    For the FSRU conversion project, apart from repair and life extension works, Keppel Shipyard will undertake shipyard engineering, installation and integration of the regasification module and upgrading of the cargo handling system. Scheduled for delivery at the end of 2018, the FSRU will be capable of re-gasifying up to 750 million metric standard cubic feet of natural gas per day.

    Keppel Shipyard has previously delivered three FSRUs, including the world's first FSRU conversion. With the increase in demand for LNG in power generation, FSRUs are a fast, flexible, cost-effective, safe and environmentally-friendly storage and regasification solution that is well suited for deployment in remote areas with smaller energy requirements. The world's first converted FLNG vessel, Hilli Episeyo, has achieved final acceptance and commenced commercial operations for Perenco in Cameroon. This was accomplished within four years of the contract award to Keppel Shipyard.

    The above contracts are not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the current financial year.

    About Keppel Offshore & Marine
    Keppel Offshore & Marine, a wholly-owned company of Keppel Corporation Limited, is the global leader in offshore rig design, construction and repair, ship repair and conversion, and specialised shipbuilding. Keppel Shipyard is a wholly-owned subsidiary of Keppel Offshore & Marine. It is the trusted industry name for the repair, conversion and upgrading of a diverse range of vessels, and a global leader in the conversion of Floating Production Storage and Offloading (FPSO), Floating Storage and Offloading (FSO) and Floating Storage and Re-gasification Units (FSRU), as well as the fabrication and installation of turrets and mooring systems, and topside process modules. Keppel FELS Brasil is a wholly-owned subsidiary of Keppel Offshore & Marine. Keppel FELS Brasil's BrasFELS shipyard in Angra dos Reis, Rio de Janeiro, has a strong track record of delivering milestone projects for Brazil, and is the most established shipyard in the Latin American region. BrasFELS' projects span the construction, integration, upgrading and repair of Floating Production Units (FPU), FPSO vessels, drillships, drilling semisubmersible rigs, platform supply vessels and anchor handling tug/supply vessels.

    About MODEC
    MODEC Offshore Production Systems (Singapore) Pte Ltd. is a subsidiary of MODEC, Inc. Founded in 1968, MODEC has been providing competitive floating solutions for the offshore oil and gas industry and is recognized as a leading specialist for Floating Production Storage and Offloading (FPSO) vessels, Floating Storage and Offloading (FSO) vessels, Floating LNGs (FLNGs), Tension Leg Platforms (TLPs), Production Semi-submersibles and Mobile Offshore Production Units (MOPUs). MODEC has an excellent track record of EPCI (Engineering, Procurement, Construction and Installation) as well as charter and operations projects, so far delivered 46 floating production systems and currently owns 13 FPSOs and 3 FSOs and operates 19 units. With over 200 years of accumulated Operation & Maintenance (O&M) term on nearly 30 floating production units, MODEC is able to use the valuable knowledge gained through O&M experience to improve our EPCI projects and Operational Services.




2019 June 20

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17:36 First European conversion of a dredger to dual-fuel LNG / MGO departs Damen Shiprepair Dunkerque
17:06 ECSA organises workshop on the shipping industry’s interests in the UN negotiations on international ocean governance
17:05 Containerships introduces its second LNG-powered ship CONTAINERSHIPS POLAR and optimizes its Baltic service
16:50 Recovery of vessel traffic in Tushino, Moscow Canal, postponed again causing ship owners’ losses
16:35 Damen Oskarshamnsvarvet Sweden achieves coveted AAA credit rating
16:18 MAN Energy Solutions, Corvus Energy and DNV GL present results of HYCAS study on hybrid power generation
16:04 Knud E. Hansen announces design of 110 m. Adventure Wind Cruise Vessel
15:34 MEYER WERFT announces handover of Spirit of Discovery
15:04 Busan Port Authority and Port of Rotterdam Authority sign contract for the issue of a five hectare site on Maasvlakte Distribution Park West
14:42 Composit participated in Dredging Summit & Expo 2019
14:25 UAE Shipping Association looks to branch out
14:03 MOL and GAIL sign charter contract for one LNG carrier
13:47 DNV GL: Building a marine supply infrastructure as part of a future hydrogen society
13:46 New generation trailing suction hopper dredger ‘Bonny River’ joins the DEME’s fleet
13:28 Helle Hammer awarded WISTA Norway’s LeaderShip Award 2019
12:50 Gazprom Management Committee reviews progress of Nord Stream 2 and TurkStream projects
12:24 Bunker prices are flat at the Far East ports of Russia (graph)
12:01 CMA CGM announces GRR from Asia to West Africa
11:36 ReCAAP ISC and Indian Coast Guard co-hosting 12th Capacity Building Workshop for Maritime Law Enforcement and Regulatory Authorities
11:11 NCSP Group’s consolidated cargo turnover for Jan-Apr 2019 increased by 0.3% to 47.6 million tonnes
10:42 Amendments to be introduced to the Water Traffic Act
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10:09 CMA CGM announces FAK rates from Asia to the Middle East Gulf
09:46 Brent Crude futures price is up 1.81% to $62.95, Light Sweet Crude – up 1.69% to $54.9
09:27 MABUX: Bunker market this morning, June 20
09:17 Baltic Dry Index is up to 1,179 points

2019 June 19

18:14 Port of Southampton signs sister port agreement with PortMiami
18:05 Unique Wärtsilä fresh water production system offers one ton per day fuel savings
17:51 Continued rail investment at the Port of Southampton accelerates air quality improvements
17:28 PGNiG confirms production potential of Poland’s largest gas field
17:03 IMRF announces new Board of Trustees
16:40 Small-size missile ship Orekhovo-Zuyevo, Black Sea Fleet, completes tasks in the Mediterranean Sea
16:02 Hapag-Lloyd announces GRI from Asia to East Coast South America
15:39 Vympel Shipyard launched first Grachonok-class special purpose boat for Federal National Guard Troops Service
15:02 Black Sea Mediterranean Express (BMX Service) Additional Gemlik Call
14:43 Baltic Workboats announces delivery of 100m fully electric ferry
14:21 RS participates in Global Fishery Forum
14:02 MOL and Japanese shipyards design Next Generation Coal carrier 'EeneX'
13:45 Igor Sharkov appointed Director of FESCO Branch Office in Vladivostok
13:26 FESCO opens seasonal transportation to ports of Chukotka
13:02 Van Oord awarded large contract for Mozambique LNG project
12:34 NIBULON Shipbuilding and Repair Yard starts constructing vessels of new project
12:12 ICS meets in Faroe Islands
11:58 Frigate Admiral Gorhskov of RF Navy's Northern Fleet sails through Panama Canal
11:37 Ship inspection platform Idwal urges investors to carry out due diligence on asset condition as standards decline
11:19 WMU signed MOU with Higher Institute of Maritime Studies, Morocco
11:12 Damen signs Phase II contract with International Organization for Migration for nine additional SAR 1906 search and rescue boats
10:55 ABB wins system package with Keppel for dredging contractor Van Oord
10:33 Lavna coal terminal to reach design capacity of 18 million tonnes in 2022
10:00 Bunker market sees mixed price movements at the port of Saint-Petersburg, Russia (graph)
09:38 MABUX: Bunker Market this morning, June 19
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2019 June 18

18:36 Spotlighting IMO's actions on climate change
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18:03 Container service boost at Bristol Port
17:53 IMO and UN Environment – working together to keep the Mediterranean clean