May 26, 2017 6:52 AM ET

Machinery

Company Overview of Jurong Shipyard Pte Ltd.

Company Overview

Jurong Shipyard Pte Ltd. provides ship building, ship repair, ship conversion and offshore, rig building, and offshore engineering services to clientele worldwide. Its facilities include docks and quays, cranage facilities, and workshops and warehouses. The company was incorporated in 1999 and is based in Singapore. Jurong Shipyard Pte Ltd. operates as a subsidiary of Sembcorp Marine Ltd.

29 Tanjong Kling Road

Singapore,  628054

Singapore

Founded in 1999

Phone:

65 6265 1766

Fax:

65 6261 0738

Key Executives for Jurong Shipyard Pte Ltd.

Chairman and Managing Director
Age: 54
Financial Controller
Chief HSE Manager for Safety
Head of Department for Management Information Systems
Senior General Manager of Human Resource and Director
Compensation as of Fiscal Year 2016.

Jurong Shipyard Pte Ltd. Key Developments

US Court Dismisses Claims Against Keppel Corp, Sembcorp Marine, Keppel Offshore & Marine and Jurong Shipyard Pte Ltd

A DISTRICT court in the US has dismissed claims tied to a Sete Brasil-linked lawsuit that were filed against Keppel Corp. and Sembcorp Marine. While the court decision may mitigate the litigation risks spilling over from their previous contracts with Sete Brasil, industry analysts pointing to excess capacity in the market said that it may take years before the two large-cap groups can hope to offload some or all the rigs commissioned by the Brazilian owner. In two separate morning disclosures on the court ruling on April 3, 2017, Keppel Corp. and Sembcorp Marine said the United States District Court, District of Columbia, had ruled in favour of them and their two respective business units, Keppel Offshore & Marine (O&M) and Jurong Shipyard Pte Ltd. (JSPL). The two disclosures said Keppel Corp, SembMarine, Keppel O&M and JSPL were added as defendants along with other shipyards and entities in a legal action filed with the US district court. US-based investment firm EIG Management and its eight managed funds commenced the lawsuit against Brazil's national oil company (NOC) Petroleo Brasileiro SA in 2016. EIG had alleged that it was misled by Petrobras, along with the other named yards and entities, to invest over $221 million of equity in Sete Brasil, a rig-owning business unit of the Brazilian NOC. Both Keppel Corp. and SembMarine had denied what they described as baseless allegations. The two Singapore-listed groups were implicated in the lawsuit because they were commissioned by Sete Brasil for the construction of 13 ultra deep-water (UDW) drilling units at a combined value of $10 billion.

North Atlantic Drilling Ltd. Announces Amendment to Agreement with Jurong Shipyard Pte Ltd

North Atlantic Drilling Ltd. has announced that an amendment has been agreed with Jurong Shipyard Pte Ltd., which extends the delivery deferral period to January 6, 2017. The extension allows the parties to continue to explore commercial opportunities for the Unit. As previously agreed, in the event no employment is secured for the Unit and no alternative transaction is completed, North Atlantic Drilling Ltd. and Jurong will form a Joint Asset Holding Company for joint ownership of the Unit, to be owned 23% by North Atlantic Drilling Ltd. and 77% by Jurong.

North Atlantic Drilling Ltd. Announces Amendment to Agreement with Jurong Shipyard

North Atlantic Drilling Ltd. announced a standstill agreement for delivery of the semi-submersible drilling unit, the West Rigel ("the Unit"). The Company announced a second amendment has been agreed with Jurong Shipyard Pte. Ltd., which extends the standstill period by a further three months to September 2, 2016. The extension of the standstill period allows the parties to continue to explore commercial opportunities for the Unit. In the event no employment is secured for the Unit and no alternative transaction is completed, the Company and Jurong will form a Joint Asset Holding Company for joint ownership of the Unit, to be owned 23% by the Company and 77% by Jurong.

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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