Keppel Reveals USD 218.5 Mn Deals Galore

December 26, 2018

Singapore-based shipbuilder Keppel Offshore & Marine clinched contracts worth about SGD 300 million (USD 218.8 million).

Illustration; Image Courtesy: Keppel Offshore & Marine

The contacts range from the design and construction of an ice-class LNG bunker vessel, refurbishment of a Floating Production Storage and Offloading vessel (FPSO) to 65 scrubber retrofit projects.

The first contract was inked by Keppel Singmarine with Shturman Koshelev LLC for the design and construction of an ice-class LNG bunker vessel. When completed in the fourth quarter of 2020, the 5,800 cbm, Ice Class 4 vessel will be chartered to Gazpromneft Marine Bunker Ltd (Gazpromneft) for operations in the Baltic Sea. Keppel said that the contract complies with applicable sanctions.

Until now, Keppel O&M has delivered 11 ice-class vessels and is currently building several LNG-fueled vessels, including South East Asia’s first LNG bunkering vessel.

The second contract was secured by Keppel Shipyard for the fabrication of a new aft hull for an FPSO. The contact stipulates the design of the aft hull, procurement of equipment, as well as fabrication, outfitting, integration and commissioning work on board the existing FPSO. The installation will also include a new accommodation block for up to 140 personnel.

Work on the FPSO, which has already arrived in the shipyard in preparation for the upgrade, is scheduled to commence in the first quarter of 2019. Delivery of the FPSO is expected by the end of 2020.

Finally, Keppel Shipyard said that it had secured a total of 65 contracts from a variety of customers for exhaust gas scrubber retrofit projects involving project management, integration design engineering, installation and retrofitting, as well as testing and commissioning works.

Th yard completed Singapore’s first scrubber retrofit installation on a very large crude carrier (VLCC) in July 2018, delivering the project in under 30 days.

“Keppel O&M also stands ready with a suite of advanced and cost-effective solutions such as scrubber retrofits and LNG-fueled vessels, as the International Maritime Organisation implements the 0.5% global sulphur cap on marine fuel from January 2020,” Chris Ong, CEO, Keppel O&M, said,.