Singapore to build DP2 subsea vessel for Hallin

Marco Polo Marine Ltd in Singapore has, via its wholly-owned subsidiary Bina Marine Pte Ltd, secured a S$74.5 million contract to build an 80m DP2 subsea operations vessel for Hallin Marine Subsea International Plc. Delivery is slated for end 2010.

The contract sum includes the procurement of saturation diving system and crane from Hallin Marine at an aggregate value of approximately S$20.0 million. The contract marks a new milestone for the Group as it progresses to build higher value and more sophisticated vessels.

To be named Coniston, the vessel is described as being “based on industry leading concepts and designs.” Coniston will be fitted with a DP2 system with Voith Schneider thrusters, an integral saturation diving system, a 50-tonne active heave compensated 1,500m depth-rated subsea crane and a fuel efficient diesel electric propulsion system. The vessel will also be able to operate in deepwater, deploy ROVs, and accommodate up to 120 personnel.

The contract brings Marco Polo Marine?s total order book to S$113.1 million.