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ASEAN+ May 17, 2018 01:00

By Asia News Network

Keppel sells more rigs to Borr Drilling for S$1bn

KEPPEL Offshore & Marine (Keppel O&M) has, through its wholly owned subsidiary Keppel FELS, inked a master agreement to sell five jack-up rigs to Oslo-based drilling contractor Borr Drilling for around US$745 million (S$1 billion).

These are existing jack-up rigs which are being built by Keppel FELS to the KFELS B class designs, said Keppel in a statement yesterday. This price excludes any down payments made by the original owners.

The master agreement is contingent on certain conditions, including Borr Drilling raising sufficient funds. Borr Drilling will pay a first instalment of US$288 million within 20 business days of the effective date of the master agreement and the remaining amounts are payable within five years from the delivery date of each individual rig.

The rigs are scheduled to be delivered from the fourth quarter of 2019 to the fourth quarter of 2020, with one rig to be delivered next year and four rigs in |2020. - The Straits Times

Largest co-working space in Philippines to open in June

Spaces, an Amsterdam-born firm, will open in June the largest co-working space in the Philippines, where the demand is “exceptional,” a top official said.

In a press briefing yesterday, country manager Lars Wittig said that they are opening the company’s first site in the Philippines with a 500-square meter co-working space.

The first and largest international provider of this type of office space, Spaces will offer competitive rates to both start-ups and Fortune 500 companies, Wittig said.

Spaces, the sister company of world-renown office space provider Regus, will be located at the World Plaza in Bonifacio Global City, Taguig, where it would cover the more than 3,000 square metres.

This includes the co-working space, which Wittig calls a “community hall.”

“Co-working space is a term of yesterday. What we are building is a community,” he said, noting that it would even have Wild Flour Bakery + Cafe Corp. serving Spaces’ patrons.

According to a separate statement, the company said the area would have more than 400 workstations, with |ample space for private meetings in offices and meeting rooms. – Philippine Daily Inquirer

Widodo sees off first export with giant ship to US

Indonesian President Joko Widodo officiated at the departure of the first CMA CGM Tage container ship of exports from the Jakarta International Containers Terminal (JICT) at Tanjung Priok in North Jakarta.

The CMA CGM Tage ship, which has a capacity of 10,000 twenty-foot equivalent unit (TEU) containers, will serve direct calls from Jakarta to Los Angeles, the United States.

“We loaded the ship with 4,300 TEU containers. It is a large number. With the direct call, the transporting of goods is more efficient,” Widodo said as reported by

The ship has a gross Tonnage (TG) of 95.263 and is 347 meters long. It is one of several massive ships that regularly |dock at Tanjung Priok port. – The Jakarta Post 


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