Grandweld wins contract for four 42 m crewboats

grandweld-shipbuilding-facilityJUNE 24, 2013 — Dubai, United Arab Emirates, based Grandweld Shipyards, has won a contract worth over $21 million from Mexico's COTEMAR, S.A. de C.V. to design and build four 42 m fast aluminum crew boats.

Grandweld shipbuilding facility

The boats will be fitted with EPA Tier 3 compliant main engines, and advanced navigation equipment to meet the client's specific needs. They are designed to reach speeds in excess of 26 knots.

They will provide luxury seating, accommodations for VIP guests, a larger deck space and enhanced comfort for the crew.

The vessels can seat 100 offshore personnel, and have a 100 sq. m loading area for over 90 tons of deck cargo. They can also carry a large amount of fuel and freshwater.

The vessels will be built at Grandweld's shipyard in Dubai Maritime City, and will operate in the Gulf of Mexico. They will comply with U.S. Environmental Protection Agency requirements and US Coast Guards regulations. The first vessel will be delivered in May 2014, with the fourth and final vessel to be delivered in August 2014.

Thirty of Grandweld's 42 m class vessels have been delivered or are currently under construction for clients worldwide.

Grandweld, a fully integrated shipyard providing shipbuilding, ship repair and engineering services, is part of Stanford Marine Group (SMG). SMG is 51 percent owned by a fund managed by Abraaj Capital and 49 percent by Abu Dhabi-listed Waha Capital.

Want more? Subscribe now!

News from NASDAQ