09 Sep 2002

Shell International Trading and Shipping Company Limited and Sembawang Shipyard Private Limited Launch the World’s First Ship-repair Alliance e-Collaboration Portal

London, September 9, 2002 – Shell International Trading and Shipping Company Limited (STASCo) and Sembawang Shipyard Private Limited, a subsidiary of SembCorp Marine Ltd, launch the world’s first Ship-repair Alliance e-Collaboration Portal www.semballiance.com in a ceremony held in London, United Kingdom.

The Ship-repair Alliance e-Collaboration Portal was officially launched at the Savoy by Mr Jan Kopernicki, Vice President of Shipping in STASCo, in the presence of Mr Heng Chiang Gnee, Chairman of Sembawang Shipyard Pte Ltd. The event marks a milestone achievement for both companies – the creation of the first ever ship-repair alliance e-collaboration portal – an innovative web-based application designed to facilitate ship refits between Sembawang Shipyard and its alliance partners.

STASCo and Sembawang Shipyard were two of the first companies in the world’s marine industry to have entered into a highly innovative evergreen alliance agreement on ship-repair in December 1998 when Sembawang Shipyard was chosen as STASCo’s alliance partner for the refit of STASCo’s fleet trading in the Far East. With the alliance, both companies have redefined the conventional owner-shipyard relationship into a forward-looking partnership with a clear focus on achieving both short and long term mutually compatible goals.

The alliance e-collaboration Portal will enable both STASCo and Sembawang Shipyard to maximise the benefits of their ship-repair alliance. The web-based Portal will enable improved joint planning, and with faster and more extensive information-sharing, the committed Alliance partners can leverage market information, skills, capabilities, knowledge, experiences, technology and design to achieve safer, faster and more cost-effective ship refits.

Key features of the portal include increased visibility, rapid notification and response to refit project management, integration with shipyard’s Enterprise Resource Planning (ERP) backend and specialised project management applications such as scheduling, budgeting, cost management, etc. It also features an on-line inventory management application and integration with marine & offshore e-procurement hubs, which enable the management of the procurement and logistics aspects of the refits from anywhere in the world.

Mr Kopernicki said, “STASCo is pleased that our alliance partnership with Sembawang Shipyard has resulted in safer repairs, reduced refit time and improved quality of repairs thus achieving greater end user value at reduced cost. This shows how innovative thinking can create value for both partners. We are indeed pleased to be the first in the marine world to launch such a Portal.”

Mr Heng Chiang Gnee said ” Our alliance with STASCo has joint initiatives in the area of health, safety and environment management, quality, cost-savings, innovative ship-repair procedures, technology and various productivity enhancement schemes. One of our joint developments is the Ship-repair Alliance e-Collaboration Portal. The Portal will progressively draw in the participation of our other Alliance partners, i.e. BP Shipping Limited (U.K.), BHP Billiton (Australia) and Jo Tankers AS (Norway).

The launch of the Portal is a very important milestone achievement for Sembawang Shipyard, as we firmly believe that the ship-repair industry can successfully leverage on technologies to transform our business. We recognise the new opportunities presented by the electronic communications medium, which when correctly harnessed and implemented, will lead to significant savings in cost, time, enhance our services and improve our overall business performance and efficiency. Our alliance Portal is a virtual project management platform for the management of refit, refit specifications, inventory and procurement. Additionally, the Portal enables the shipyard and our alliance partners to share and address our mutual needs by integrating our systems and processes to achieve our long-term alliance objective of delivering a competitive edge for our Alliance partners in the performance of their ships.

The unequivocal support of our alliance partner, STASCo, has been instrumental in our achievement today and we definitely look forward to maximising the opportunities offered by the alliance Portal to add and create value for both organisations.”

For further information or clarification, please contact the following:

Ms Judy Han
Vice President, Investor Relations & Communications
SembCorp Marine Ltd
Tel: 65-62627203
Fax: 65-62610738

Email : judy@jspl.com.sg

Ms Lee-Lin Wong
General Manager
Sembawang Shipyard Pte Ltd
Tel: 65-67506021
Fax: 65-67581025
Email: leelin@sembcorp.com.sg

Ms Kate Hill
Shell International Media Relations (London)
Tel : +44 (0) 20 7934 2914
Fax : +44 (0) 20 7934 5252
: http://www.shell.com
E-mail : Kate.Hill@shell.com

Ms Patricia Chua
Shell International Media Relations (Singapore)
Tel: +65 6384 8290
Fax: +65 6384 8987
E-mail: Patricia.Chua@shell.com

Submitted by Lim Seh Li, Company Secretary on 09/09/2002 to SGX