TWO mainboard listed service providers for the oil and gas industry, Ezion Holdings and Kreuz Holdings, posted improved first quarter earnings and revenues, boosted by contributions from regional projects. For three months ended March 31, 2013, net profit of offshore support service firm Ezion more than trebled from the previous year s US$14.1 million to US$46.2 million, or 5.02 US cents a ...

SEMBCORP Industries recorded net profit for the first quarter of 2013 of $176.9 million, little changed from $176.7 million a year earlier.The group said the decline in profit from its Singapore utilities operations was partially offset by higher contributions from its Chinese and Middle East utility assets.Revenue fell 3 per cent year on year to $2.35 billion from $2.43 billion , due to lower ...

LUXURY yacht manufacturer Grand Banks Yachts said yesterday it is on track for its best luxury yacht sales since the global financial crisis. The Singapore listed company, which has faced internal turmoil over the past year or so, expects to complete five yachts for buyers in the region by June 30, the end of its current financial year. Buyers from Singapore, Japan and Micronesia contributed to ...

KEPPEL Telecommunications & Transportation s (Keppel T&T) net profit for the first quarter ended March 31, 2013, rose 4 per cent to $15 million from $14.4 million a year ago.The three months saw group revenue rising 10.1 per cent to $37 million, from $33.6 million a year ago. This was due to higher revenue contributions from its logistics and data centre divisions. As a result, operating profit ...

[SINGAPORE] Singapore rigbuilders lose out to Korean or Chinese rivals in not having a large pool of labour, but analysts think that they could have a winning hand if they transition to an intellectual property reliant business.Rig building yards typically move to lower cost countries, due to the industry s labour intensive nature. China has the right labour mix to build rigs, given their ...

KEPPEL Fels has secured a contract from offshore rig operator and long term partner Ensco plc to build a KFELS B Class jack up rig, to be named Ensco 110.The contract is worth about US$225 million, taking into account construction, commissioning, systems integration testing and project management costs.Analysts say this latest price point is positive. The rig price is up 15 per cent from August ...

HALLIBURTON, the world s second largest oil and gas equipment maker, opened its flagship manufacturing centre for completion tools at Jurong Industrial Park yesterday, to meet growing demand from the eastern hemisphere. Halliburton s Completion Technology and Manufacturing Center marks the first phase of the oilfield equipment giant s expanding presence in Singapore. The Completion Tools ...

A REPEAT order from Mexico boosted Sembcorp Marine s 2013 order book but failed to boost its shares on a day when the Singapore stock market suffered a broad retreat. Mexican Integradora de Servicios Petroleros Oro Negro (Oro Negro), a Temasek Holdings linked Mexico based rig investor, signed a contract for two jack up rigs worth US$417 million from SembMarine subsidiary PPL Shipyard. The duo ...

WHILE the offshore market remains one of the few bright spots in the global maritime industry, Singapore companies, which are among those at the top of their game in this sector, are also not resting on their laurels and are prepared for the challenges ahead. The sector s prospects and the current market situation are among the topics that will be covered at this year s Sea Asia 2013 Conference ...

CATALIST listed WE Holdings said yesterday that it will pursue oil and gas business opportunities in Myanmar. In doing so, it will be joining the ranks of several so called Myanmar plays that have excited investors since last year. WE Holdings said it will tie up with prominent Myanmar businessman Nay Win Tun, chairman of the Ruby Dragon group which has mining, manufacturing, agriculture, food ...

LOCAL marine civil engineering company HSL Constructor yesterday launched a $10 million piling barge, which is touted to be South east Asia s largest and the most technologically advanced. Measuring 47.8m in length and with a gross tonnage of 1,328, the heavy duty piling barge is built for driving large diameter steel and concrete piles. The vessel can handle bigger piles than most, with ...

PRYING barnacles off ship hulls may seem a medieval approach to cleaning vessels, but that is the reality of the maritime industry. Singapore based La Mans Marine Engineering (LMME) is, however, bringing a modern day approach to upkeep of ships with its Piranha System. Piranha is likened to the industrial street sweepers that sweep away fallen leaves on roads. Circular brush heads are attached to ...

KEPPEL Corporation has announced a special dividend in specie distribution of Keppel Reit units, even as it reported weaker fourth quarter results. A quieter period of rig deliveries during the quarter in Keppel Corp s yards and poorer performance at its infrastructure division led to the conglomerate reporting a 22 per cent fall in net profit to $305 million for the three months ended Dec 31, ...

Jan 8 close $1.795 OSK RESEARCH, Jan 8 EZION S share price has surged 19 per cent since our last report of Dec 18 and market cap has reach a record high of $1.64 billion. While there were no major announcements between our last report and now, we believe the strong share price performance is due to expectation of new contracts. We remain positive on Ezion We ...

CONGLOMERATE Keppel Corporation turns 45 in 2013 and chief executive officer Choo Chiau Beng penned a special message to the group s 40,000 employees that credits the group s people, technology and innovation for its record financial performance and shareholder value, achieved even during a period of economic turmoil. We are proud of our record financial results, but numbers are only part of the ...