Keppel Offshore & Marine Ltd’s (Keppel O&M) specialised shipbuilding arm, Keppel Singmarine Pte Ltd (Keppel Singmarine) has clinched three newbuilding contracts totaling about S$140 million.

The first contract was awarded to Keppel Singmarine by Dutch dredging
and marine contractor, Royal Boskalis Westminster N.V. (Boskalis) for
the construction of a 159-metre long rock dumping fall pipe vessel to
be completed in late 2011.

Rock dumping fall pipe vessels are capable of depositing large amounts
of rocks in deep waters with great precision to protect and stabilise
cables and oil and gas pipelines on the seabed.

The vessel to be built by Keppel Singmarine will have a carrying
capacity for 23,000 tonnes of rock. She will be installed with
propulsion machinery and special rock handling equipment supplied by
Boskalis to carry out precise rock depositing works at water depths of
more than 1000 metres with Dynamic Positioning (DP-2) capabilities.
This vessel will also have a flexible fall pipe with a Remotely
Operated Vehicle installed at the lower end for better positioning. As
the vessel moves along her track under dynamic control, the rocks will
be lowered through the fall pipe at a controlled rate.

Mr Hoe Eng Hock, Executive Director of Keppel Singmarine, said, “We are
very pleased that Boskalis has chosen Keppel to build its latest
vessel.

“Having accumulated years of experience and built more than 400
specialised ships of different designs and functions, we have honed and
proven our ability to tailor-make vessels for every frontier, be it in
deep waters or under icy conditions.

“Rock dumping fall pipe vessels are a good example of highly
specialised ships that require detailed engineering customised to the
owners’ requirements. Leveraging our proven track record and expertise
in this area, we are confident of delivering a quality vessel to
Boskalis’ expectations.”

Mr. Theodorus L. Baartmans, member of the Board of Management, Royal
Boskalis Westminster N.V, said, “At Boskalis, we have long experience
of working with Keppel and are familiar with its quality of work.

“Keppel Singmarine is well known for its strong expertise in handling
sophisticated vessels, especially those equipped with diesel electric
drives and dynamic positioning capabilities. We are confident that they
will be able to deliver on their promises as we work closely towards
the success of yet another challenging project.”

In addition to Boskalis’ vessel, Keppel Singmarine has also secured
another two tugboat contracts. The first is to build a 65-tonne bollard
pull twin-screw Azimuth Stern Drive (ASD) tugboat with FiFi1 notation
for firefighting for repeat customer, Smit International. This tugboat
is based on the proprietary MTD 3265T design developed in-house by
Keppel’s Marine Technology Development unit.

The second tugboat contract involves constructing a 50-tonne bollard
pull twin-screw ASD tugboat for an Indonesian customer PT. Pelayaran
Trans Parau Sorat.

The tugboats are scheduled for completion in the fourth and first quarter of 2010 respectively.

The above contracts are not expected to have any material impact on the
net tangible assets and earnings per share of Keppel Corporation
Limited for the current financial year.

Source: Keppel Corporation

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