Keppel wins $212M Vessel Contract

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Keppel wins $212M Vessel Contract

Keppel Corporation Ltd. announced that specialized shipbuilder Keppel Singmarine Pte Ltd. (Keppel Singmarine), has secured a contract from New Orient Marine Pte Ltd., a subsidiary of Luxembourg-based Maritime Construction Services SA (Maritime Construction Services), for an ice-class multi-purpose vessel worth about $212 million (SGD 265 million).

Scheduled for completion in the middle of 2017, the vessel will be built to the proprietary design of Keppel O&M’s ship design and development arm, Marine Technology Development (MTD).

Designed to operate in ambient temperature as low as minus 30 degree Celsius, the vessel will have an Ice Class Arc 5 notation and capabilities such as Class 3 dynamic positioning and diving support functions.

Keppel Singmarine is a leading shipyard in the design and construction of ice-class vessels, having built seven ice-class vessels for the Arctic and Caspian regions. In addition to the contract from Maritime Construction Services, it currently has three more on order, bringing the number of ice-class vessels in its orderbook to a total of four.

Keppel Singmarine became the first company in Asia to construct icebreakers when it secured the contract to build two arctic icebreakers in 2006 and it has continued to build up its capabilities in ice-class vessels since.

Source: Rigzone

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Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.