Keppel scores three construction deals

Keppel Singmarine will build two new ships at its Singapore yard for SMIT Transport & Heavy Lift BV. This order concerns the construction of a diving support vessel/anchor-handling tug and an anchor-handling tug supply vessel. Both vessels have a bollard pull capacity of 70 tons and will be delivered in the second half of 2005.

Mar 23rd, 2004

Keppel Singmarine will build two new ships at its Singapore yard for SMIT Transport & Heavy Lift BV. This order concerns the construction of a diving support vessel/anchor-handling tug and an anchor-handling tug supply vessel. Both vessels have a bollard pull capacity of 70 tons and will be delivered in the second half of 2005.

In addition to the contract for the two new vessels, SMIT has also taken an option on two other vessels with a bollard pull of 120 tons. These are the first vessels in a new standardization process of SMIT. All four ships share the same basic design. They have an accommodation capacity of 40 to 50 persons.

The vessels will be capable of performing a variety of tasks for SMIT. Next to its tasks as anchor-handling and supply vessels, the ships can be used for salvage and maritime projects. The ships have also been outfitted for holding a deck crane and an A-frame.

One of the vessels will be used as a diving support vessel on the North Sea. The other ships will be used for anchor handling, supply, salvage, and project support in Southeast Asia and West Africa.

Keppel FELS Ltd. has also secured a $114 million contract from Odfjell Drilling to build a KFELS B class jackup rig.

The contract includes an option for another two units, with price adjustment for increase in steel prices and currency fluctuations.

The design of the jackup rig is proprietary to Keppel Offshore & Marine, the parent company of Keppel FELS. It is capable of operating in 350 ft of water, drilling down to 30,000 ft and accommodating 110 men.

The new rig is scheduled for delivery in 2Q 2006.

03/23/04

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