SINGAPORE (May 23): Keppel Corporation revealed Wednesday that the contracts won by Keppel Singmarine to build two high-specification Trailing Suction Hopper Dredgers (TSHDs) for Van Oord are valued at approximately $212 million, excluding owner furnished equipment.

The disclosure was in response to a query from Singapore Exchange on Monday, asking the group to reveal the value of the contracts as well as the option for a third vessel.

Keppel had announced the contract wins on May 16, but did not disclose the value of the contracts.

See: Keppel O&M to build two dredgers for Dutch Van Oord

In addition, Keppel today clarified that Van Oord has been offered an option to order a third dredger of similar specifications to the first two. Keppel says the price of the option vessel will be subject to adjustments, and would only be finalised and determined at the relevant time if and when the option is exercised.

Keppel Singmarine is a subsidiary of Keppel Offshore & Marine, a member of the Keppel Corp group of companies.

Shares of Keppel Corp closed 13 cents lower, or down 1.6%, at $8.08 on Wednesday.