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Marine Log

February 12, 2008

Swire Pacific orders eight AHTS's from Qingdao

Swire Pacific Offshore Holdings Limited (SPO) has signed an agreement with Qingdao Qianjin Shipyard, Qingdao, to build eight new "P" Class Anchor Handling Tug Supply vessels (AHTS) for delivery in 2010 and 2011. This is the first time that the Singapore-headquartered provider of specialist support services to the global offshore oil and gas industry has placed an order with a mainland Chinashipyard.

The new 4,800 horsepower, IMT957-design vessels will be 57 m long, with a bollard pull of 60 metric tons; the first pair is scheduled for delivery in August 2010, with the remaining pairs of vessels delivering at four-monthly intervals thereafter. The contract, which is worth in the region of US$100 million, completes the major part of an ongoing fleet replacement program and when the last of these eight new vessels is delivered in 2011, the wholly owned Swire Pacific subsidiary will have replaced 24 of its older vessels, and increased its fleet size to 86 vessels, with an average age of 11.

Commenting on the contract, Swire Pacific Executive Director, Philip Chen, said: "Swire Pacific Offshore has selected Qingdao Qianjin Shipyard to build its latest newbuildings after an exhaustive global search, and given that SPO's fleet already includes some of the most state-of-the-art vessels operating anywhere in the industry, the decision reflects our confidence in the increasing sophistication and quality of workmanship available in Mainland shipbuilding yards."

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