2006 was a good year for Keppel

Keppel Offshore & Marine Limited (Keppel O&M) completed and delivered 26 newbuilds and conversions totalling about S$2 billion ($1.3 billion), on time or ahead of time and within budget in 2006.

Tong Chong Heong, Managing Director of Keppel O&M, said, “At present, many shipyards worldwide are faced with high level of activities, and Keppel is no exception. The on-time and ahead of time deliveries by our yards demonstrate that the Keppel O&M group remains on track in delivering profitability and growth with the strong and effective execution of our projects.” Tong went on to say that current projects for the year ahead are also progressing well.

Keppel O&M has received in total, about S$2.6 million in safety and early-delivery bonuses from the owners of the various projects completed and of the current works in progress for the year 2006. Tong added, “I am glad that our customers recognise our excellent performance amid the high volume of work. The bonuses are a way of expressing their appreciation for our personnel’s commitment to ahead-of-time deliveries, quality workmanship and excellent safety records.”

Effective utilisation of the company?s global network of shipyards, planned expansion of its facilities and careful execution of its near market, near customer strategy have also played an important role to the success.

In the past year, Keppel FELS delivered six jackup rigs, one semisubmersible drilling tender (SSDT) and one upgraded semisubmersible, the Ocean Endeavor, which was delivered in December. The yard also delivered its last jackup for the year on 27 December. Wilcraft, a KFELS B Class rig delivered four days ahead of time, is expected to be named on 13 January 2007.

At Keppel Shipyard, despite more than 300 vessels being docked intermittently throughout the year for repairs and conversions, the yard also saw the delivery of two major Floating Production Storage and Offloading (FPSO) conversion projects.

In addition, Keppel Singmarine accomplished on-time deliveries for three tugs and 11 offshore support vessels (OSV) including its first ice-class anchor handling tug supply (AHTS) vessel, M.V Svetlyy, which was delivered ahead of time on 20 December.

Meanwhile, Keppel’s yard in the Philippines, Keppel Phillipines Marine, Inc (KPMI) completed the construction of two tugs during the year.