Monday, June 5, 2023
HomeHeadlinesKeppel awarded FSRU conversion & FPSO integration work

Subscribe

To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

Keppel awarded FSRU conversion & FPSO integration work

Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard), has been awarded work for the conversion of a Floating Storage and Regasification Unit (FSRU) and the integration of a Floating Production Storage and Offloading vessel (FPSO).

For the first project, Keppel Shipyard has inked a Limited Notice to Proceed (LNTP) with a global provider of LNG shipping services to commence early works for the conversion of a Liquefied Natural Gas (LNG) Carrier into an FSRU.

The scope of the LNTP includes engineering work commencing in 4Q 2021, with the Full Notice to Proceed (FNTP) for the remainder of the work expected within 1Q 2022 when the project reaches final investment decision.

For the second project, Keppel Shipyard has received a Letter of Award (LoA) from BW Offshore, a fully-owned subsidiary of the BW Group, to undertake the integration work on a newbuild FPSO. The formal contract signing is expected by early 2022.

Keppel Shipyard will be responsible for the integration of about 35,000 tons of topside modules and a turret. Additional options are available for the fabrication of structures such as a flare tower.

The total value of the two projects is expected to be around S$200 million, including the FNTP. Further announcements will be made when the FNTP on the FSRU project has been received, and when a definitive contract has been entered into between Keppel Shipyard and BW Offshore on the FPSO integration.

The above developments are not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corporation Limited for the current financial year

Related Posts

Video

Finance & Economy
Shipping News
Ports

BW LPG appoints new CFO

BW LPG announced that it has appointed Ms Samantha Xu as Chief Financial Officer (CFO), effective 1 September 2023. Ms Xu has over 20 years...

Frontline Posts Highest First Quarter Results Since 2008

Frontline plc reported unaudited results for the three months ended March 31, 2023: Highlights Highest first quarter profit since 2008 of $199.6 million, or $0.90 per...

Diana Shipping posts slightly lower Q1 profit; takes out $123m in loans

Diana Shipping reported net income of $22.7 million and net income attributed to common stockholders of $21.3 million for the first quarter of 2023....

CMA CGM Profit Eases as Container Transport Demand Wanes

CMA CGM expects its profit to ease further for the rest of the year after a first-quarter decline, as an uncertain economy and influx...

Seanergy ‘well positioned to benefit from positive trend in Capesize market’

Seanergy Maritime Holdings Corp., announced its financial results for the first quarter ended March 31, 2023, and declared a quarterly dividend of $0.025 per...

Taiwan Shipping Firms Set to Hand Out Bumper Bonuses Again

Taiwanese shipping companies are handing out bumper mid-year bonuses despite a slump in global...

Baltic index hits over 3-month low amid lower coal imports

The Baltic exchange’s main sea freight index extended losses for the 15th session straight...

Baltic index falls for the month as vessel demand wanes

The Baltic exchange’s main sea freight index recorded its first monthly decline in four...

North Korea missile tests endanger shipping, UN maritime agency told

North Korean missile tests are endangering the safety of commercial shipping in busy sea...

Singapore Clamps Down on Tankers as Dark Fleet Grows

Singapore’s detentions of oil and chemicals tankers have surged since early last year, highlighting...

DP World Completes Terminal Expansion Project Vancouver Port

DP World has completed the AED954 million ($259.78 million) Centerm expansion project, increasing container throughput at the Port of Vancouver by 60 percent. The terminal...

DP World completes AED 954 million Vancouver port expansion

DP World and the Vancouver Fraser Port Authority have celebrated two historic events – the completion of the Centerm Expansion Project at DP World...

Alexandroupolis port gets 24 million euros of EU funding

Greece has secured 24 million euros ($26 million) in European Union funding to upgrade its northern Aegean Sea port of Alexandroupolis, privatisation agency HRADF...

Port Hedland Iron Ore Exports Down 5% in April

Pilbara Ports Authority (PPA) has delivered a total monthly throughput of 57.7 million tonnes (Mt) for April 2023. This throughput was a two per cent...

APM Terminals Reveals $1 Billion Investment in Brazil

APM Terminals’ CEO Keith Svendsen has pledged an investment of about US$1 billion in the company's Brazilian operations up to 2026. The amount includes around...