keppelite february 2013 issue - tj giavridis marine services co. ltd.

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172539ContentsSUSTAINING GROWTHRobust results 4Poised for the future 7Financial resilience 11Navigating with fortitude 14Growing with China 17Tianjin blossoms 18Ties that bind 19Special FocusOn track for record deliveries 20Mark of excellence 24Strengthening partnershipsAdvancing in Wuhu 25Bolstering leadership 26Progress in Perth 27Forging tiesSustainable developer 28Shaping industry agenda 29Spurring innovation 30EMPOWERING LIVESSharing best practices 31Broadening skill setsNurturing bicultural leaders 32Time for talents 33Keppelites AbroadCamaraderie in the Philippines 34Sporting friendship 35Joyous rhythm 36Victorious debutUshering in good tidings 37Living her mother’s dreamNURTURING COMMUNITIESGet going for good 38Keppel VolunteersWarming hearts 39BACK PAGESeizing growth opportunities 40Cover image: Christening the twin KFELS B Class jackup rigs, Transocean Andaman and Transocean Siam Driller on 2 February2013 are Lady Sponsors Mrs Duantem Voradejviseskrai (seated, on left) and Mrs Lamiad Charoensaeng (seated, on right),Mr Masagos Zulkifli (back row, third from left), Senior Minister of State, Ministry of Home Affairs and Ministry of ForeignAffairs, Mr Choo Chiau Beng (back row, second from left), CEO of Keppel Corporation and Chairman of Keppel Offshore &Marine (Keppel O&M), Mr Tong Chong Heong (back row, third from right), CEO of Keppel O&M and Mr Chow Yew Yuen(back row, second from right), COO of Keppel O&M.eppelPublished for people in the Keppel Group by the Group Corporate Communications Division, Keppel Corporation Limited, 1 HarbourFront Ave, #18-01 Keppel Bay Tower,Singapore 098632. Printed by Image Printers Pte Ltd, Blk 1002, Redhill Industrial Estate, Jalan Bukit Merah, #03-12, Singapore 159456.Editorial AdvisorWang Look FungEditorSue Ann HuangEditorial CommitteeAng Lai Lee, Carol Huang, Casiopia Low, Chan Suan Sim, Cheryl Goh, Chew Chong Peng, Clement Lim, Diana Chan, Donald Sng, Eileen Tan, Elizabeth Widjaja, Eva Ho,Frances Teh, Grace Chia, Hayley Teo, Hoo Yao Lin, Ivana Chua, Jocelyn Chan, Karin Xiao, Lee Chin Siang, Lee Wan Jun, Li Zhen Bei, Liang Hui Hui, Lim Xuehui, Ng Boon Hwee,Priscilla Chong, Razali Maulod, Roy Tan, Serena Toh, Teri Liew, Tracy Pham, Vett Ramos, Woon Pek Yong, Yolanda Guo, Yu ZehanKeppelite I February 2013CO REG NO: 196800351N
EditorialDelivering excellenceWhen Keppel FELS delivered 13 offshorerigs in 2009, it was considered a record feat thatmany had not expected to be repeated so soon,especially when the world was then in recessionand new orders were drying up. Keppel Offshore& Marine (Keppel O&M) only had $1.7 billion innew orders that year.Just two years later, Keppel O&M secured contractsamounting to $10 billion for the year, a new recordwhich was repeated in 2012. The result is that, in2013, Keppel O&M will deliver an unprecedented46 projects, of which 20 will be delivered byKeppel FELS.For Keppel, it is not just about breaking recordsbut about doing things better and safer. It is aboutconstantly challenging ourselves to exceed ourcustomers’ expectations.The world economy, though, continues to bevolatile. This compels rig owners to be budgetconscious,and value the timely delivery of theirrigs so that they can be promptly deployed.With a record number of rigs ordered worldwide,equipment costs are escalating. There is also ashortage of skilled labour worldwide. In Singapore,the government is presently looking to tighten theinflux of foreign labour which make up a significantportion of the yards’ workforce. Post Macondo,safety regulations are even more stringent, withrigorous safety audits required. As the shippingmarket declines, there is also increased competitionfrom shipbuilding yards in China and Korea lookingto enter the offshore rig-building market.Amid this challenging scenario, Keppel FELS hascontinued to secure new orders while deliveringrigs on time. The yard has already delivered fourrigs this year with perfect safety records and aheadof schedule, some even as much as a month early.(See Special Focus)We are off to a good start but to achieve this newrecord will be no mean feat.Process improvements in our rig constructionhave been put in place in tandem with facilityenhancements. Our yards have been efficientlylaid out like assembly lines, significantly reducingthe time it would take to build a jackup rig. Withmost rigs being built to Keppel’s proprietary design,we have better control and can reap efficienciesthrough replication of the construction process.More automation has also been introduced,reducing the dependence on unskilled labour.Even as our yards work toward the deliveries, safetyremains our top priority and this is reinforced bynew initiatives such as the Keppel Group SafetyTarget 2013 which aims to reduce incident ratesby at least 20% and achieve zero fatality.Keppel continues to win strong votes of confidencefrom customers over the years because of ourreputation for delivering quality products on time,on budget and in a safe manner. In a year whichwould see unprecedented deliveries, we have theopportunity to showcase our mettle, exactingexecution and collective strength, proving to ourcustomers that we are indeed the provider ofchoice, with a clear lead from our competitors.The need to safeguard our reputation as a marketleader of quality products with timely deliveriesmust reverberate across companies in the KeppelGroup. Whether in infrastructure or propertyprojects, we are only as good as our last project.Even as we set new records, we must deliver onour promises.Keppelite I February 2013
Page 4 and 5: 4 Sustaining Growth GrowthRobust re
Page 6 and 7: 6 Sustaining Growth...continued fro
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Page 10 and 11: 10 Sustaining Growth...continued fr
Page 12: 12 Sustaining Growth...continued fr
Page 15 and 16: Sustaining Growth 15not take on pro
Page 17 and 18: Sustaining Growth 17Growing with Ch
Page 19 and 20: Sustaining Growth 19Construction of
Page 21 and 22: 21said, “India’s growing energy
Page 23 and 24: 23Celebrating a strong partnership
Page 25 and 26: Sustaining Growth 25Advancing in Wu
Page 27 and 28: Sustaining Growth 27Progress in Per
Page 29 and 30: Sustaining Growth 29Shaping industr
Page 31 and 32: Empowering Lives 31Sharing best pra
Page 33 and 34: Empowering Lives 33Time for talents
Page 35 and 36: Empowering Lives 35Sporting friends
Page 37 and 38: Empowering Lives 37Ushering in good
Page 39 and 40: Nurturing Communities 39Warming hea

keppelite february 2013 issue - tj giavridis marine services co. ltd.

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