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Keppel Singmarine wins contracts for up to 2 dredgers

A WHOLLY-OWNED subsidiary of Keppel Offshore & Marine has won contracts to build up to two dredgers priced at about S$120 million. The contracts Keppel Singmarine Pte Ltd secured from Codralux SA are for a pair of trailing suction hopper dredgers (TSHDs). TSHDs are mainly used for dredging loose and soft soils, which can be discharged to shore for use in land reclamation. Including owner-furnished equipment, these dredgers are valued at about...


Singapore banks may miss the O&M boat when sector recovers

IT IS no secret that the big three local banks have resorted to foreclosing vessels to salvage outstanding loans extended to offshore and marine (O&M) companies under distress. DBS group chief executive, Piyush Gupta at a Singapore Maritime Week panel session openly joked that the bank has emerged as "a reluctant owner" of shipping assets. Mr Gupta made this remark in late April, just weeks after a former stock market darling, Ezra Holdings,...


Tide of digitisation to shake up maritime sector

THE buzz surrounding digitisation was louder this year though not all has been positive. The maritime sector recognises that digitisation is necessary to stay relevant; it was in this spirit that the Maritime and Port Authority of Singapore penned five memoranda of understanding during Singapore Maritime Week 2017 for research and development collaboration on advancing digital and autonomous applications in the sector. But many remain...


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