Kim Heng clinches $35M in Taiwanese vessel contracts

Oct. 7, 2022
Kim Heng has been awarded $35 million worth of marine spread contracts from construction companies in Taiwan for offshore renewable energy construction projects.

Offshore staff

SINGAPORE  Kim Heng Ltd.'s wholly owned subsidiaries, Kim Heng Marine & Oilfield Pte Ltd. (KHMO), Khan Hin Engineering Pte Ltd. (KHE) and its 49% owned subsidiary Bridgewater Marine (Taiwan) Ltd. (BMT) have been awarded multiple contracts totaling US$35 million comprising of newbuilds and the sale of various existing marine and land-based marine assets.

The contracts were awarded to KHMO, KHE and BMT by established construction companies in Taiwan amounting to approximately $17.3 million, $14.6 million and $3.1 million, respectively.

Under the contracts, KHMO and KHE will provide design, engineering and shipbuilding for the new vessel builds. The contracts are expected to be completed by fourth-quarter 2023.