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

Sustaining Growth 29Shaping industry agendaSea Asia 2013, a keymaritime conference andexhibition, will take placeon 9 to 11 April this year.The event will comprisepanel discussions on a broadrange of topics, includings h i p f i n a n c e , g r e e ntechnologies, and theprospects of various segmentsof the maritime industry.Mr Chow Yew Yuen, COOof Keppel Offshore & Marine(Keppel O&M), has beeninvited to particpate inthe Sea Asia 2013 paneldiscussion on the offshoresector, which will takeplace on the second day ofthe event.In shaping the themes tobe discussed at Sea Asia2013, Mr Aziz Merchant,ED of Keppel Offshore &Marine Technology Centre(Deepwater Technology) andDeepwater Technology Groupas well as ED (Engineering) ofKeppel FELS, participated ina roundtable discussion inDecember 2012 involvingindustry experts.Mr Merchant shared on therig replacement market. Heindicated that demand for rigreplacement is being drivenby the industry’s growingpreference for newer, highspecificationrigs, whichboasts strong safety andefficiency features.Mr Merchant also explainedthat as the requirements ofoil companies are gettingmore stringent, the costsand schedule differences ofmeeting these requirementsvia conversion and upgradingversus newbuilding havenarrowed. As such,newbuilding is increasinglymore attractive.On the matter of projectfinance, Mr Merchant notedthat working with reputableyards and acquiring rigs builtto proven designs supportcustomers’ efforts in gettingfavourable financing terms.His thoughts were sharedby Mr Ian Thia, Senior Vice-President & Head of OffshoreAsia at DNB Bank ASA. Also aparticipant of the roundtablesessions, Mr Thia said thathis team would hesitate tofinance a complex project atan inexperienced facility.When asked about the newrequirements that Keppelhas to factor into its rigdesigns, Mr Merchant listedexamples such as havingmore advanced equipment,higher redundancies andlarger capacities as wellas ensuring higher energyefficiency.Keppel O&M will have astrong booth presence atSea Asia 2013. For moreinformation on Sea Asia2013 and to register, pleasevisit www.sea-asia.com.keppeliteMr Aziz Merchant (third from right), ED of Keppel Offshore & Marine Technology Centre (Deepwater Technology) and Deepwater Technology Group as well as ED (Engineering) of Keppel FELS,shared on the outlook for the offshore market and some of the challenges of the sector at a breakfast roundtable with management representatives from various organisationsKeppelite I February 2013