Swire Pacific places first order with mainland Chinese yard

Singapore: Swire Pacific Offshore Holdings Limited (SPO) has ordered eight new "P" Class Anchor Handling Tug Supply vessels (AHTS) from mainland Chinese shipyard Qingdao Qianjin Shipyard. This is the first time that the Singapore-headquartered offshore and gas services supplier has placed an order with a Mainland shipyard.

Commenting on the contract, Swire Pacific exec dir Philip Chen said, "Swire Pacific Offshore has selected Qingdao Qianjin Shipyard to build its latest newbuildings after an exhaustive global search, and given that SPO's fleet already includes some of the most state-of-the-art vessels operating anywhere in the industry, the decision reflects our confidence in the increasing sophistication and quality of workmanship available in Mainland shipbuilding yards."  

The IMT957-design vessels, worth a combined $100m, are scheduled for delivery to the Singapore-headquartered offshore and gas services supplier between 2010 and 2011. The 4,800 horsepower AHTS are estimated to cost approximately $100m and will boost SPO's fleet to 86 vessels.  [14/02/08]