Marine Log

May 22, 2006

Batam yard to build 180 m DSV

Singapore based shipbuilder Pan-United Marine Limited has clinched a US $49.5 million contract to construct a specialized offshore support vessel with a 180-meter diving support at its Batam shipyard in Indonesia.

The value of the vessel, expected to be delivered in 3Q08, is estimated at above US $130 million, including the cost of owner-furnished equipment.

It is the yard's fourth contract from a repeat customer.

The vessel, designed for diving operations, will be equipped with a 1,600-tonne revolving pedestal crane and two 100-tonne revolving cranes for heavy lifting and pipe-laying projects in offshore support projects for the oil and gas sector.

The Batam shipyard successfully completed the building of a 140-m DP3 diving support and construction vessel in January 2003.

Executive Director Ng Sing Chan said: "As exploration and production venture into ever deeper waters, size does matter--this will be one of the biggest construction vessels with DP3 capabilities to be built in this part of the world. This contract shows that PUM is well-positioned to capture a good slice of the highend specialized vessel shipbuilding segment."