Keppel clinches S$127 million FPSO conversion and repair contracts

Keppel Shipyard Limited (Keppel Shipyard) and Keppel Verolme BV (Keppel Verolme) have secured contracts worth a total of around S$127 million for the conversion of a tanker to a Floating Production Storage Offloading (FPSO) facility and the repair of a FPSO vessel respectively. The conversion of the VLCC Capella to FPSO Mondo is the eighth such FPSO/FSO project that Keppel Shipyard is executing for Single Buoy Moorings Inc (SBM) since 2000. The vessel is expected to be completed in third quarter 2007.