ST Marine to build more feeders

Singapore Technologies Engineering Ltd (ST Engineering) announced that its marine arm, Singapore Technologies Marine Ltd (ST Marine), has signed contracts for two 1,030 TEU feeder vessels worth approximately $51.7m. These two vessels are options provided for in the contract with Shreyas World Navigation Pte Ltd announced on 27 January, 2005.

The first vessel is signed by Orient Express Lines of Dubai and the second vessel by Shreyas Shipping Limited, India. Shreyas World Navigation, Orient Express Lines and Shreyas Shipping belong to the Transworld Group of Companies. This brings the total to four feeder boxships worth approximately $103m ordered by Transworld Group with ST Marine. All four measure 148 metres in length, have a service speed of 19 knots and

will be fitted with two cargo cranes. The first vessel is expected to be delivered in the third quarter of 2007 and the second vessel three months later.

“Having contracted for two feeder container vessels with ST Marine earlier, Transworld Group is very pleased to add another two newbuilds now. The high level of technical competency which ST Marine’s team clearly displayed, backed by their track record of successful deliveries, gives us confidence that ST Marine will deliver quality ships that will support our mission to provide efficient, economical and reliable container feeder services.” said S. Ramakrishnan, chairman of Transworld Group of companies.