STEng – BT

ST Engg secures US$87m contract from US Navy

ST Engineering’s US shipyard continues to reel in US defence contracts, announcing yesterday a US$87 million contract to build an enhanced version of a T-AGS 60 Class oceanographic survey ship for the US Navy.
The contract was awarded to ST Marine’s VT Halter Marine. ST Marine is the marine arm of ST Engineering.

Construction of the 107.6-metre new ship, T-AGS 66, will begin at Halter Moss Point in the first half of next year, with delivery scheduled in 2013.

The dynamic positioning-equipped vessel will have various enhancements of its equipment and electronics systems as well as a moonpool for through-hull launch and retrieval of scientific research equipment.

T-AGS 60 Class ships are designed and constructed to provide multi-purpose oceanographic capabilities for the Oceanographer of the Navy.

Typical missions of the T-AGS 60 Class ships may include: oceanographic sampling and data collection of surface, midwater and ocean floor parameters; the launching, recovering, and towing of scientific packages both tethered and autonomous including the handling, monitoring, and servicing of remotely operated vehicles; shipboard oceanographic data processing and sample analysis; and precise navigation, track line manoeuvring, and station keeping to support deep ocean and coastal surveys.

VT Halter Marine is the leading designer and builder of specialised oceanographic ships for the US Navy and has built the previous six ships of the T-AGS 60 Class.

‘VT Halter Marine is pleased to be given the opportunity to continue our long standing partnership with the US Navy and this contract is a testament to our track record of designing and constructing quality T-AGS oceanographic vessels for the US Navy,’ said ST Marine president Chang Cheow Teck.

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

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