NGV wins Saudi deal

Malaysian shipbuilder NGV Tech Sdn Bhd has secured a $70 million contract to design, build supply seven vessels to Saudi Arabia-based Bakri Navigation. The orders are for two units of the 35.8 metre, 65 tonne bollard pull ASD offshore terminal docking tug, one unit of the 29.70 metre, 35 tonne bollard pull VSP offshore mooring vessel and four units of the 60 metre, 60 tonne bollard pull anchor handling tug supply vessel. Delivery of the vessels is expected to take about 25 months.

NGV Tech also expects to conclude negotiations to supply another 10 bigger size vessels to Bakri Navigation in the near future. The new contract for 10 vessels is expected to be concluded by April 2007 pending the outcome of a bid which Bakri Navigation has submitted for an oil contract. If ordered, it will take three years to deliver the 10 vessels.

NGV Tech currently has contracts worth $47 million to design, build and supply 13 various types of vessels for Bakri Navigation. Four of the 13 vessels are currently undergoing trials and due to be delivered by end-November. The remaining nine vessels are in various stages of construction and scheduled for delivery by April 2007.