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Marine Log

July 28, 2008

Keppel Singmarine to multipurpose pipelayer

Keppel Offshore & Marine Limited's wholly-owned subsidiary, Keppel Singmarine has secured a S$181 million (US$133.1 million) contract to build a multi-purpose heavylift/ pipelay vessel for Romanian drilling contractor, Grup Servicii Petroliere SA (GSP).

With accommodations for up to 290 persons, the vessel will be equipped with three offshore cranes, the largest of which has a lifting capacity of 1,800 tonnes, and it will be fitted with a 10-point mooring anchor system.

The machinery systems onboard will include three units of Voith Schneider propellers for main propulsion, five retractable azimuth thrusters for positioning, and a Class 3 certified dynamic positioning system. Some of the equipment will be supplied by the owner.

To be classed by ABS this vessel will be designed and built to meet international environmental standards. The vessel will be certified with the new Environmental Safety notation, which provides stringent guidelines on preventing pollution, minimizing the discharge of harmful substances and emissions, and the treatment of sewage, among others.

Suited for unrestricted service worldwide, GSP's new vessel is scheduled for completion in the third quarter of 2011, and will be deployed to the Black Sea and Mediterranean regions.

Mr Gabriel Comanescu, President of GSP's parent company the Upetrom Group, said, "We are pleased to be working with a reputable shipyard such as Keppel Singmarine. With its proven track record, we trust that Keppel Singmarine will deliver a high quality vessel that will meet our offshore requirements."

Mr Hoe Eng Hock, Executive Director of Keppel Singmarine said, "Customers are seeking more sustainable means of mining oil and gas, and we are seeing a gradual increase in orders for specialized ships that are environmentally safe.

"We are very pleased that the Upetrom Group has chosen Keppel Singmarine to build its latest eco-friendly multi-purpose vessel. Our strength in designing and building large offshore construction support vessels and our understanding of global environmental standards will put us in good stead to create value for our new customer."

Keppel Singmarine is presently constructing two other pipelay vessels for a U.S .customer, Global Industries.

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