ASL Marine secures eight shipbuilding contracts

ASL Shipyard Pte Ltd, the wholly owned subsidiary of ASL Marine Holdings, has secured additional shipbuilding contracts worth a total of $45 million for the construction of eight new vessels. These contracts, from various customers in Europe and Malaysia, comprise of two Rotor tugs, four azimuth stern drive (ASD) tugs, one maintenance/work vessel and one Voith escort tug.

In addition, ASL Marine’s 50% jointly-controlled entity, ASL Energy Pte Ltd has signed a 10-year charter contract with PT Dermaga Perkasapratama to charter its 65,000 dwt floating terminal pontoon that is currently being built by ASL Shipyard.

The floating terminal pontoon will be used for the unloading of coal from the barges; storage of coal; and subsequent loading of coal onto ocean-going vessels. The floating terminal pontoon is expected to be completed and operational by December 2005.