SHIPBUILDER Keppel Philippines Marine Inc. is not expecting to build large vessels in its various facilities in the country but will mainly rely on those projects that the parent unit from Singapore will assign to it.

Yeo Chien Sheng Nelson, the company’s chairman, said Tuesday the company’s Philippine operations will be mainly on ship repair and building small to medium-sized vessels.

“Our main focus [this year] will be on ship repair,” Nelson said at the sidelines of the company’s stockholders’ meeting. He said the company will still have a flat to a slight growth this year despite the expected slowdown in the world economy on rising world food and oil prices.

“Our main concern now is to make sure that the impact [of a slowing world economy] is minimized,” he said.

Keppel Marine has been receiving a lot of orders in the past few months, supported by its mother unit in Singapore and increasing demand to convert some vessels to comply with stricter environmental regulations and the construction of new ships.

Its facility in Batangas province is mainly getting jobs outsourced by Keppel Offshore and Marine Group, such as the fabrication of offshore oil rigs.

Its board recently approved the investment of about P79 million in capital stock of Goodsoil Marine Realty Inc., the property owner of its shipyard in Bauan, Batangas.

The company operates two main shipyards—one each in Batangas and Cebu province—and a minority stake in Subic Shipyard and Engineering Inc.

The company reported it expects its Philippine shipyards to be active in the near term. Its Batangas facility will support the operations of the Keppel Group, while its Cebu shipyard is geared to serve the international shipping industry.

Subic Shipyard, on the other hand, is expected to be active in ship repair and conversion works for international customers.

“Production capacities and facilities of the three yards will continue to be improved or increased to enhance efficiency,” the company said in the report.

KS Investments Pte. Ltd. owns 95.66 percent of Keppel Marine. The rest is owned by minority investors that include retail king Henry Sy Sr., the SM Group and state-owned Philippine National Oil Co.-Shipping and Transport Corp.

For the first three months of the year, the company turned in a net profit of P135.13 million, up 60 percent from P84.64 million a year earlier.

Marina set to supervise forwarders, international shippers

THE Maritime Industry Authority, or Marina, is set to take over the supervision of international shipping lines and sea freight forwarders, a job long handled by the Philippine Shippers’ Bureau (PSB).

Keppel Marine will rely on Singapore parent

SHIPBUILDER Keppel Philippines Marine Inc. is not expecting to build large vessels in its various facilities in the country but will mainly rely on those projects that the parent unit from Singapore will assign to it.

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