Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Keppel bags $442m offshore renewables vessel contract

Photo: Keppel View of Keppel O&M yard
Keppel Offshore & Marine (Keppel O&M) has bagged a SGD600m ($442.2m) contract from an energy company for a vessel for the offshore renewable energy sector.

Keppel said the contract was for the engineering, procurement and construction of the vessel for an undisclosed energy company. No details of the vessel were disclosed or its expected delivery date.

The company did say that contract was based on progressive payments.

Commenting on the contract Keppel said: “This is in line with Keppel Corporation’s Vision 2030, which includes seeking opportunities in providing renewable energy solutions.”

A strategic review by Keppel sees the potential sale or merger of its offshore marine business, which has been hard hit by low oil prices and COVID-19.