Specialised shipbuilder Keppel Singmarine Pte Ltd (Keppel
Singmarine), a wholly-owned subsidiary of Keppel Offshore & Marine
Ltd (Keppel O&M), has secured a contract from New Orient Marine Pte
Ltd, a subsidiary of Luxembourg-based Maritime Construction Services SA
(Maritime Construction Services), for an ice-class multi-purpose vessel
worth about S$265 million.
Scheduled for completion in the middle of 2017, the vessel will be
built to the proprietary design of Keppel O&M's ship design and
development arm, Marine Technology Development (MTD).
Mr Abu Bakar Mohd Nor, Managing Director of Keppel Singmarine, said,
"We are glad to have the opportunity to support new customer Maritime
Construction Services by building their first ice-class multi-purpose
vessel. Over the years, Keppel Singmarine has built up a strong track
record in specialised vessels, and we are pleased that Keppel's
proprietary design in ice-class vessels remains in high regard within
the industry. Moving forward, we will continue to invest in technology
and work with MTD to be a leading solutions provider in this market."
Mr Knut Reinertz, Director of Maritime Construction Services, said,
"There is a demand for modern ice-class multi-purpose vessels in the
market and we believe this new state-of-the art vessel we are building
with Keppel Singmarine is ideally suited to meet this need. We are able
to leverage our experience as operators and charterers, together with
Keppel Singmarine's expertise and track record in the design and
construction of ice-class vessels, to expand our service offerings with
this kind of specialised vessel."
Designed to operate in ambient
temperature as low as minus 30 degree Celsius, the vessel will have an
Ice Class Arc 5 notation and capabilities such as Class 3 dynamic
positioning and diving support functions.
Keppel Singmarine is a leading shipyard in the design and
construction of ice-class vessels, having built seven ice-class vessels
for the Arctic and Caspian regions. In addition to the contract from
Maritime Construction Services, it currently has three more on order,
bringing the number of ice-class vessels in its orderbook to a total of
Keppel Singmarine became the first company in Asia to
construct icebreakers when it secured the contract to build two arctic
icebreakers in 2006 and it has continued to build up its capabilities in
ice-class vessels since.
The above contract is not expected to
have a material impact on the net tangible assets or earnings per share
of Keppel Corporation Limited for the current financial year.
I am 61 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and retired @ 60 from full-time job as employee.
Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 2nd year uni in SUTD.
I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild.
I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038.
Last updated: 3 Sep 2017
Disclaimer: Stock trading involves significant risks. Create Wealth trader is not a licensed Investment Adviser and will not be responsible for any losses which you incurred. You are advised to always do your own homework before making any trading decision.