The marine arm of Singapore Technologies Engineering received confirmation from Hornbeck Offshore Services on the exercise of options to build the two PSVs valued at about S$111m. The two new vessels are slated to be delivered in the fourth quarter of 2014 and the first quarter of 2015, respectively.
In November 2011, ST Marine's US shipyard VT Halter Marine won an order to construct eight OSVs for Hornbeck, with options for up to 24 additional identical vessels.
On shiprepairs and upgrading, ST Marine secured a series of contracts, not involving Hornbeck, in the last two months worth about S$68m. These include repairs and upgrades to various types of OSVs such as drillships, dredgers as well as a rig. The last of these projects are expected to be completed by the first quarter of 2013.
“We shall continue to ride on the demand for OSVs and pursue this segment with our track record as a shipbuilder and repairer of choice for such vessels,” said Ng Sing Chan, president of ST Marine.
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