Category Archives: Singapore

Singapore, officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, 137 kilometres (85 mi) north of the equator

TPP :: The treaty from hell

Obama’s Secret Treaty Would Be The Most Important Step Toward A One World Economic System

By Michael Snyder, on November 12th, 2014

Barack Obama is secretly negotiating the largest international trade agreement in history, and the mainstream media in the United States is almost completely ignoring it.  If this treaty is adopted, it will be the most important step toward a one world economic system that we have ever seen.  The name of this treaty is “the Trans-Pacific Partnership”, and the text of the treaty is so closely guarded that not even members of Congress know what is in it.  Right now, there are 12 countries that are part of the negotiations: the United States, Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.  These nations have a combined population of 792 million people and account for an astounding 40 percent of the global economy.  And it is hoped that the EU, China and India will eventually join as well.  This is potentially the most dangerous economic treaty of our lifetimes, and yet there is very little political debate about it in this country.

Even though Congress is not being allowed to see what is in the treaty, Barack Obama wants Congress to give him fast track negotiating authority.  What that means is that Congress would essentially trust Obama to negotiate a good treaty for us.  Congress could vote the treaty up or down, but would not be able to amend or filibuster it.

Of course now the Republicans control both houses of Congress.  If they are foolish enough to blindly give Barack Obama so much power, they should all immediately resign.

And it is critical that people understand that this is not just an economic treaty.  It is basically a gigantic end run around Congress.  Thanks to leaks, we have learned that so many of the things that Obama has deeply wanted for years are in this treaty.  If adopted, this treaty will fundamentally change our laws regarding Internet freedom, healthcare, copyright and patent protection, food safety, environmental standards, civil liberties and so much more.  This treaty includes many of the rules that alarmed Internet activists so much when SOPA was being debated, it would essentially ban all “Buy American” laws, it would give Wall Street banks much more freedom to trade risky derivatives and it would force even more domestic manufacturing offshore.

In other words, it is the treaty from hell.

In addition to imposing Obama’s vision for the world on 40 percent of the global population, it is also being described as a “Christmas wish-list for major corporations”.  Of the 29 chapters in the treaty, only five of them actually deal with economic issues.  The rest of the treaty deals with a whole host of other issues of great importance to the global elite.

The following list of issues addressed by this treaty is from a Malaysian news source

• domestic court decisions and international legal standards (e.g., overriding domestic laws on both trade and nontrade matters, foreign investors’ right to sue governments in international tribunals that would overrule the national sovereignty)

• environmental regulations (e.g., nuclear energy, pollution, sustainability)

• financial deregulation (e.g., more power and privileges to the bankers and financiers)

• food safety (e.g., lowering food self-sufficiency, prohibition of mandatory labeling of genetically modified products, or bovine spongiform encephalopathy (BSE) or mad cow disease)

• Government procurement (e.g., no more buy locally produced/grown)

• Internet freedom (e.g., monitoring and policing user activity)

• labour (e.g., welfare regulation, workplace safety, relocating domestic jobs abroad)

• patent protection, copyrights (e.g., decrease access to affordable medicine)

• public access to essential services may be restricted due to investment rules (e.g., water, electricity, and gas)

Why can’t we get this type of reporting in the United States?

And if this treaty is ultimately approved by Congress, we will essentially be stuck with it forever.

This treaty is written in such a way that the United States will be permanently bound by all of the provisions and will never be able to alter them unless all of the other countries agree.

Are you starting to understand why this treaty is so dangerous?

This treaty is the key to Obama’s “legacy”.  He wants to impose his will upon 40 percent of the global population in a way that will never be able to be overturned.

Of course Obama is touting this treaty as the path to economic recovery.  He promises that it will greatly increase global trade, decrease tariffs and create more jobs for American workers.

But instead, it would be a major step toward destroying what is left of the U.S. economy.

Over the past several decades, every time a major trade agreement has been signed we have seen even more good jobs leave the United States.

And it doesn’t take a genius to figure out why this is happening.  If corporations can move jobs to the other side of the planet to nations where it is legal to pay slave labor wages, they will make larger profits.

Just think about it.  If you were running a corporation and you had the choice of paying workers ten dollars an hour or one dollar an hour, which would you choose?

Plus there are so many other costs, taxes and paperwork hassles when you deal with American workers.  For example, big corporations will not have to provide Obamacare for their foreign workers.  That alone will represent a huge savings.

Any basic course in economics will teach you that labor flows from markets where labor costs are high to markets where labor costs are lower.  And at this point it costs less to make almost everything overseas.  As a result, we have already lost millions upon millions of good jobs, and countless small and mid-size U.S. companies have been forced to shut down because they cannot compete with foreign manufacturers.

Later this month, consumers will flock to retail stores for “Black Friday” deals.  But if you look carefully at those products, you will find that almost all of them are made overseas.  We buy far, far more from the rest of the world than they buy from us, and that is a recipe for national economic suicide.

We consume far more wealth that we produce, and anyone with half a brain can see that is not sustainable in the long run.  The only way that we have been able to maintain our high standard of living is by going into insane amounts of debt.  We are currently living in the largest debt bubble in the history of the planet, and at some point the party is going to end.

Please share this article with as many people as you can.  We need to inform people about what Obama is trying to do.

If Obama is successful in ramming this secret treaty through, it is going to do incalculable damage to what is left of the once great U.S. economy.

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Daewoo International to Build OSV for Swire Pacific (Singapore)

Daewoo International, the trading arm of POSCO, announced on May 25 that it has won a large shipbuilding order in cooperation with Sungjin Geotec, another POSCO affiliate. Under the deal with Swire Pacific Offshore (SPO) of Singapore, Daewoo International will build a $20 million offshore supply vessel (OSV). Daewoo International and Sungjin Geotec will deliver the vessel to SPO within one year.

Sungjin Geotec specializes in offshore plant equipment and modules for global energy markets.

An offshore supply vessel is used for diving assistance or oceanographic surveys for offshore oil platforms. Amid a worldwide boom in marine energy exploration, OSVs are becoming increasingly important.

The victory was a result of Daewoo`s extensive overseas network and information power, combined with specialized technologies of Sungjin, which has long been involved in the OSV market,Daewoo International said in a press release. “This will be remembered as a good example of how partnership between different POSCO affiliates can create synergy“.

The partnership with Daewoo International was the key ingredient to winning the contract,” a Sungjin representative commented. Sungjin Geotec plans to strengthen its ties with Daewoo International to expand its presence in global OSV markets.

Source: World Maritime News – Daewoo International to Build OSV for Swire Pacific (Singapore).

Singapore: EMAS Achieves Record Order Book with New Contracts

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EMAS, a leading global offshore contractor and provider of integrated offshore solutions to the oil and gas (O&G) industry and operating brand for Ezra Holdings Limited announces two further contract awards worth a total of approximately US$131.5 million.

EMAS’s fabrication division, recently rebranded as TRIYARDS, has been awarded a US$76.5 million contract to fabricate and deliver a self-elevating mobile offshore platform/unit for a client based in Asia Pacific. The unit will be manufactured by the Group’s fabrication division’s yard in Vung Tau, Vietnam, the Group’s second yard facility in country. The fabrication division provides fabrication and vessel design as well as engineering services and has previously built one of the world’s largest self propelled jack-up rigs of its kind.

In a separate announcement EMAS reported its subsea division, EMAS AMC, has been awarded a US$55 million contract for SURF (subsea umbilicals, risers and flowlines) installation and pipe lay from Statoil for work in the North Sea.

Mr Lionel Lee, EMAS’s Managing Director, said: “Our continued stream of new contract wins across the globe by our various divisions validates our internationalisation strategy. We had identified subsea services for our next phase of growth, and since our strategic acquisition of Aker Marine Contractors last year to form EMAS AMC, we have been able to push our Group orderbook to almost US$2 billion in a short span of a year.

“The offshore energy industry is increasingly recognising EMAS as a trusted global player. Our contracts now come from beyond Asia Pacific, and include the challenging environments of the Gulf of Mexico and the North Sea. I am extremely delighted with the momentum and track record we have achieved, and I am confident we will be able to sustain this growth with all our divisions competing for projects around the world.”

EMAS recently announced the award of a US$70 million contract (with options valued at US$30 million) from Apache Energy Limited, allowing EMAS AMC to achieve its US$1 billion subsea orderbook target ahead of time.

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New Terminal JV in China for Odfjell SE

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Odfjell SE has made an agreement to enter into a joint venture via its subsidiary Odfjell Terminals Asia Pte Ltd (Singapore), with Tianjin Economic-Technology Development Area (TEDA) via its subsidiary Nangang Port Company to develop a terminal and marine facilities for bulk liquid chemicals, petroleum products and gases in the Nangang Industrial Zone (Tianjin) in China.

The initial phase of the joint venture will consist of three deep sea berths and have a total storage capacity of about 150,000 cubic meters.

The joint venture company will be named Odfjell Terminals Nangang (Tianjin), whereby Odfjell will hold 49% ownership and hold the operational management. The initial total investment is estimated to be about USD 160 million. The first phase will start operations during the second quarter of 2014. The Nangang Industrial Zone is located about 120 km from Beijing and will become the major petrochemical complex in the Western Bohai Bay area

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USA: Keppel to Turn Ocean Voyager into Ocean Onyx

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Keppel AmFELS, a shipyard strategically located at the gateway of the Gulf of Mexico, Brownswille, Texas has secured a contract from Diamond Offshore to construct and upgrade a moored semisubmersible rig with delivery scheduled for 3Q 2013. The estimated shipyard contract price is approximately US$150 million.

The rig, to be named Ocean Onyx, will be constructed from an existing hull from a Diamond Offshore cold stacked unit, which previously operated as the Ocean Voyager.

Keppel AmFELS’ scope of work on the Ocean Onyx includes the reconstruction of the rig, installation of advanced equipment such as a modern drilling package, and installation of sponsons to the pontoons to enhance the stability of the rig in deepwater. The rig will be designed to operate in water depths of up to 6,000 feet and will have a variable deck load of 5,000 long tonnes, a five-ram blowout preventer, and quarters capacity for 140 personnel.

Mr Larry Dickerson, President and CEO of Diamond Offshore, said, “We have worked with Keppel for more than a decade, and our rigs have consistently been delivered on time and within budget, whether in the US or Singapore. With Keppel’s track record as a leading offshore yard, we are confident that this project will also be a success.”

Keppel O&M has previously built four similar semisubmersible rigs for Diamond Offshore: the Ocean Baroness, Ocean Rover, Ocean Endeavour and Ocean Monarch.

Mr Tan Geok Seng, President of Keppel AmFELS, said, “We are pleased to be able to embark on another major rig project for Diamond Offshore, who has worked with Keppel on more than 20 projects since 1996. Diamond’s rigs are sent regularly to our yards around the world for maintenance, repair and upgrade, and Keppel AmFELS has proven to be their choice yard in the US Gulf of Mexico. Having built a long-term partnership with Diamond, we understand the company’s needs and are confident of delivering another high quality rig to their satisfaction.”

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