Keppel lands offshore contracts

Keppel Singmarine has clinched three newbuilding contracts worth a total of $72.3 million. The first contract involves the construction of four anchor handling tug/supply (AHTS) vessels at its Keppel Nantong Shipyard, northwest of Shanghai. The deliveries of these vessels are expected between third quarter 2007 and mid 2008.

The owner is Hadi Offshore Pte Ltd., a newly established Singapore subsidiary of Hadi H. Al Hammam Est., Saudi Arabia (HADI). Charles Foo, Managing Director (Special Projects) of Keppel Offshore & Marine and Chairman of Keppel Singmarine, commented, “Construction of the first HADI vessel at Keppel Nantong Shipyard will begin by the first quarter this year. We are committed to ensure that our good track record with HADI will be replicated in Keppel Nantong Shipyard.

The second contract that Keppel Singmarine has secured is for the construction of a 60-tonne Ice-Class AHTS vessel for repeat customer, LUKOIL. An earlier order was placed for a similar AHTS in the second quarter 2005. The leading oil company in Russia, LUKOIL?s main activities are in oil and gas exploration and production, and production and sale of petroleum products.

In yet another deal, Keppel Singmarine will build a 100-tonne anchor handling tug (AHT) for a new customer, Seaways International, a newly setup operations in Singapore with base company in the Middle East.