Keppel in talks with Seadrill, Scorpion and Lewek on their contracts

Keppel Offshore & Marine Limited has received indications from Seadrill Limited, Scorpion Offshore Ltd, and Lewek Shipping Pte Ltd that they are reviewing their options on their newbuilding contracts, signed in the middle of this year.

The contracts under review are for a semisubmersible for Scorpion Offshore, two jackup rigs for Seadrill and a Multi-Functional Support Vessel for Lewek Shipping. Keppel O&M is in talks with them to arrive at mutually acceptable arrangements for these contracts. Construction work has not started on these projects, for which Keppel O&M has received down payments. If these contracts are cancelled, the cancellations are not expected to have any material impact on the net tangible assets or earnings per share of Keppel Corporation for the financial year ending 31 December 2008. Keppel O&M has a strong orderbook of about $12.5 billion extending through to 2012 and its contracts are cashflow positive.

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Vulnerability of coastline in focus

New Delhi: Even as elite commando units from the Navy and the National Security Guard mounted operations to flush out terrorists from the Taj and Trident-Oberoi hotels on Thursday, security and intelligence agencies stressed on the vulnerability of India’s 7,516-km coastline along nine States and four Union Territories.

Though the “Coastal Security Scheme” was launched in March 2006 by the Union Home Ministry, the breach of coastline in Mumbai on Wednesday by terrorists showed they could enter through the gaps. As Mumbai’s nightmarish terror attacks began and the security and intelligence agencies apprehended its gravity, arrangements were made to fly the first lot of commandos in an IL-76 military transport aircraft, owned by the Aviation Research Centre of the Research and Analysis Wing, at 3 a.m. Along the coast from Mumbai to Gujarat, ships were being intercepted and checked by the Navy and the Coast Guard. Sources in the Home Ministry said the Coastal Security Scheme was being given top priority for setting up 73 coastal police stations, 97 check posts, 58 outposts and 30 barracks. About 50 of the 73 approved coastal police stations had already been made operational, the sources said. Under the scheme, the coastal police stations were to be equipped with 204 boats, 149 jeeps, 312 motorcycles for increasing mobility of the police personnel on the coasts and in close coastal waters. The scheme has been reviewed by the Home Ministry from time to time. The Coast Guard has also been imparting training to different State police personnel in mounting maritime vigil.

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Signal Dock – Thunder Hawk Hull Repair

Signal International announced that SBM-Atlantia’s Thunder Hawk is currently drydocked at the company’s Port Arthur Texas facility for hull repairs.

The huge structure arrived at Port Arthur after being transported from Singapore on a heavy lift dry-tow vessel. Drydocking of the newbuild semi will enable Signal to repair damage that was done to Thunder Hawk’s pontoons before leaving Southeast Asia. Repairs consist of: grit-blasting to bare metal the perimeter of the damaged outer hull, torch cutting to enable removal of the damaged hull segments, fitting and welding of the prefabricated replacement hull sections and restoring coatings in accordance with the design specifications. The on-dock work is expected to take 30 to 45 days and employ up to 200 additional craftsmen. Signal International, LLC, is a marine and fabrication companies in the Gulf of Mexico providing repair, upgrade, new construction and fabrication services to the offshore and marine industry. Headquartered in Mobile, Alabama, Signal currently employs over 4,000 workers in its six production facilities, two in Mississippi and four in Texas.

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