STEng – BT

ST Marine bags S$127.7m deal to build diving support vessel

SINGAPORE Technologies Marine (ST Marine) has secured a S$127.7 million contract to build and outfit a diving support vessel (DSV) for a foreign customer registered in Singapore.

The marine arm of Singapore Technologies Engineering (ST Engg) will build the 107.1m long, 4,000 dwt DSV, which will have a light ‘Ice Class’ notation, in accordance with rules set by Norwegian ship classifier Det Norske Veritas.

The vessel will be equipped with an electric propulsion system with dynamic positioning capability, and have an accommodation space for 100 persons. It will carry a 140-tonne subsea crane, an 18-men diving saturation system and carry two remotely operated vehicles to support diving operations in the subsea sector.

Construction is slated to begin in January next year and delivery is planned for mid-2010. When completed, the DSV will add to the customer’s fleet to serve its clients in the oil and gas industry.

‘This contract signifies an important milestone for ST Marine’s foray into the offshore deepwater oil and gas exploration and subsea sector,’ said ST Marine president Chang Cheow Teck.

The deal is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engg for the current financial year.

Contracts won by ST Marine this year included a US$19.4 million deal to build an anchor handling tug and supply (AHTS) vessel, which has deepwater offshore capabilities as well, for Ezra unit Lewek Shipping. In February, it clinched a S$28 million contract from Norway-based Wavefield-Inseis, which provides marine geophysical services using highly specific vessels and the latest seismic equipment, signalling again ST Marine’s capability as a turnkey provider of speciality vessels.

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