• 2018 October 8 10:46

    Keppel to build another two LNG carriers for Stolt-Nielsen worth around S$105 million

    Keppel Offshore & Marine (Keppel O&M) through its wholly-owned subsidiary Keppel Singmarine, has signed two additional contracts with Stolt-Nielsen Gas B.V. (Stolt-Nielsen Gas), a subsidiary of Stolt-Nielsen Limited, following the exercise by Stolt-Nielsen Gas of its options to build two additional small-scale LNG carriers worth a total of around S$105 million.

    Three options were granted to Stolt-Nielsen Gas as part of the original contract signed in May 2017 between Keppel Singmarine and Stolt-Nielsen Gas to build two LNG carriers. The first option lapsed in November 2017, while the second and third options have now been exercised by Stolt-Nielsen Gas.

    Mr Abu Bakar, Managing Director (Gas & Specialised Vessels), Keppel O&M, said, "We are pleased that Stolt-Nielsen Gas has exercised their options to build two additional LNG carriers. It reflects the partnership that we have built over the past year, and Keppel O&M's ability to leverage our newbuild and LNG expertise to provide customised solutions."

    "These LNG carriers will be the 4th and 5th vessels capable of LNG bunkering as well as the 11th and 12th LNG powered vessels that Keppel will be building. We look forward to furthering this track record as the industry increasingly adopts LNG as a marine fuel."

    Similar to its preceding two units, the two LNG carriers will each have a capacity of 7,500m3, and come equipped with engines that can run on both diesel and LNG. To be completed in 4Q 2020 and 1Q 2021 respectively, the carriers will have a class notation for bunkering which enables the provision of LNG bunkering services if required.

    With the tightening of global emissions standards, the marine industry is increasingly adopting LNG as a marine fuel. Economical and quick to market, small-scale LNG projects are a means to reaching end users located in remote areas not served by pipelines.

    The abovementioned 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 is a global leader in offshore rig design, construction and repair, ship repair and conversion and specialised shipbuilding. Its Near Market, Near Customer strategy is bolstered by a network of yards and offices worldwide. Integrating the experience and expertise of its yards worldwide, Keppel O&M aims to be the provider of choice and partner for solutions for the offshore and marine industry.

    About Keppel Singmarine

    Keppel Singmarine is the specialised shipbuilding arm of Keppel O&M, with a track record of designing and building over 400 ships of various specifications and functions, spanning from Anchor Handling Tug/Supply vessels, Multi-Purpose Offshore Support vessels and tugboats to highly advanced solutions such as pipelay vessels, icebreakers and ice-class support vessels.

    About Stolt-Nielsen

    Stolt-Nielsen Limited (SNL) is the world's leading provider of integrated transportation and storage solutions for specialty and bulk liquid chemicals and a wide range of other liquid products. SNL's aquaculture division is a leading high-tech producer of turbot and other premium fish and fish products.
    Stolt-Nielsen Gas (SNG) entered the market for the transportation of liquefied petroleum gas (LPG) in late 2009, building on the company's global expertise in the safe and efficient transportation of cargoes with specialised handling requirements.




2019 January 23

18:27 Planning for 2020 IMO's sulphur cap has already started
18:13 Eagle Bulk receives commitment for a new credit facility totaling $208 million
18:02 Port of Gdansk (Poland) throughput in 2018 totaled 49.03 million tonnes, up 20.7% Y-o-Y
17:40 Andrei Malyarov elected as Chairman of Severnaya Verf shipyard's BoD
17:19 RWE files acquisition of renewables businesses of E.ON and innogy with European Commission
17:03 The Board of Directors of Fincantieri appoints a second General Manager
16:51 Ice restrictions at the port of Arkhangelsk come into effect on February 15
16:37 USCG interdicts smuggling boat with convicted criminals aboard off Florida
16:24 Regulatory issues related to operation of seaport infrastructure facilities to be discussed at the 2nd HES and Dredging Congress
16:08 First discharge of LPG from Ichthys LNG Project in Japan carried by “K” LINE’s VLGC “GRACE RIVER”
16:03 CMA CGM to launch its Med Pendulum Service (MPS)
15:46 Ice restrictions at the port of Vyborg (Leningrad Region) come into effect on February 6
15:33 Nakilat – Keppel welcomes first FSRU at the Erhama Bin Jaber Al Jalahma Shipyard
15:28 MHI Vestas achieves final turbine installation at Horns Reef 3
15:18 Rolls-Royce completes €57 million upgrade of Rauma thruster facility
15:03 NYK announces delivery of new coal carrier for Hokkaido Electric Power
14:33 Port of Oakland reports more ships than ever plugging into grid
14:20 Throughput of Port Vysotsky up 10.7% to 7.89 million tonnes in 2018
14:03 Kiel welcomes the TUI Cruises newbuilding
13:45 Admiralteiskie Verfi shipyard lays down large freezing trawler of Project СТ-192
13:27 Coast Guard’s only heavy icebreaker arrives at Antarctica
13:02 Rotterdam as a circular hub for the raw materials transition
12:58 The Russian Federation accedes to passenger compensation treaty
12:51 New initiatives to strengthen Singapore as a global maritime hub announced
12:37 SCHOTTEL presents new mechanical hybrid propulsion solution
12:04 Port of Riga cooperates with Balarusian forest industry to further increase its timber cargo volumes
11:42 15 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on January 22-23
11:16 OSG exercises option for second 204,000 barrel barge at Gunderson Marine
10:55 Maritime Security & Offshore Patrol Week 2019 to be held for the first time ever in Dubai, UAE by IQPC Middle East
10:37 N-KOM welcomes first FSRU at the Erhama Bin Jaber Al Jalahma Shipyard
10:20 Responsibilities for implementation of state programmes of the Russian Federation divided between Deputy Prime Ministers
10:06 Brent Crude futures price up 0.03% to $61.52, Light Sweet Crude – up 0.02% to $53.03
09:48 Aderco: Planning for 2020 has already started
09:43 Vympel Shipyard lays down yet another hydrographic vessel / buoy tender of Project 19910 for RF Navy
09:19 Baltic Dry Index is down to 1,036 points

2019 January 22

18:25 Elengy prepares the sale of access capacities to the Fos Tonkin LNG terminal for the period 2021-2030
18:05 Monjasa steps up as the 2nd largest local bunker supplier in the Panama Canal in 2018
17:54 Relampago practices skills with UAE Navy ship
17:35 CalMac takes over the tiller at Argyll Ferries
17:05 NYK gets the highest-rated ‘A’ for Climate Change by CDP Survey
16:42 RF Government proposed candidates to Novorossiysk Commercial Sea Port's BoD
16:23 Pilbara Ports Authority achieves a new record tonnage on a single tide at the Port of Port Hedland
15:56 Port of Rotterdam Authority and Rotterdam Port Promotion Council renew collaboration
15:46 ICTSI Subic hits milestone 200,000th TEU move
15:44 Growth seen in several sectors at ABP South Wales
15:28 KONTUR SPb ERT unit’s drills get thumbs up from Rosmorrechflot’s certification commission
15:22 First ship viaVerbrugge Terminals’ new permanent shipping line with South America docks in North Sea Port
15:00 Meyer Turku delivers New Mein Schiff 2 to TUI Cruises in Kiel
14:41 Jotun looks into expansion of ship coatings production in Russia
14:32 HHLA completes expansion of the container rail terminal Burchardkai
14:19 Bunker prices are flat at the Far East ports of Russia (graph)
14:02 North Queensland Bulk Ports Corporation opens the Port of Mackay for new bulk material trades
13:32 China Navigation to acquire the bulk shipping activities of Hamburg Süd
13:22 14 crewmembers of gas carriers which caught fire in the Kerch Strait confirmed dead, five missing
13:15 Fincantieri to build LCS 31 for US Navy
12:53 Gdynia, Poland to host Transport Week 2019 on March 5-7
12:31 MOL moves to establish 'Asahi MOL Tankers' for pool operation of MR Product Tankers
12:14 DFDS expands cooperation with Turkish Ekol Logistics
11:45 ABP invests £2.2 million in new agribulk terminal at Port of Ayr
11:17 BIMCO: only international action will stop increase in piracy