SINGAPORE (Dec 26): Keppel Offshore & Marine (Keppel O&M) has secured contracts worth a combined value of $300 million via its wholly-owned subsidiaries, Keppel Singmarine and Keppel Shipyard.
The first contract is by Keppel Singmarine with Shturman Koshelev LLC, for the design and construction of an ice-class LNG bunker vessel built to Keppel O&M’s proprietary MTD 5800V LNG design. It will have an Ice Class Arc 4 notation and a cargo capacity of 5800 sq m.
When completed in 4Q20, the vessel will be chartered to Gazpromneft Marine Bunker for operations in the Baltic Sea.
Another contract is by Keppel Shipyard and an operator of floating production vessels for the fabrication of a new aft hull for a floating production storage and offloading (FPSO) vessel.
Keppel Shipyard will be responsible for the design of the aft hull, procurement of equipment, as well as fabrication, outfitting, integration and commissioning work on board the existing FPSO. The installation will also include a new accommodation block which can accommodate up to 140 personnel.
The FPSO has already arrived in the shipyard in preparation for the upgrade, and work on the vessel is scheduled to commence in 1Q19 with delivery slated by end-2020.
Separately, Keppel Shipyard has secured a total of 65 contracts from various customers for exhaust gas scrubber retrofit projects.
“These new contracts are testament to Keppel O&M’s expertise in the building, upgrading and conversion of a wide range of vessels. They also extend our track record in refurbishment and modification projects, which are a core part of our business,” says Chris Ong, CEO of Keppel O&M.
Shares in Keppel Corp closed 1 cent higher at $5.86 on Friday.