New batch of deals for Dyna-Mac entail order to build FPSO topside modules

Singapore’s offshore builder Dyna-Mac has secured several new contracts with existing customers worth a total provisional sum of S$270 million (nearly $203.3 million), bringing its net order book to date to S$608.1 million (about $457.8 million).

According to Dyna-Mac, the first contract win is for the construction of topside modules for a floating production storage offloading (FPSO) vessel with work expected to start in 3Q 2023 while the completion of this assignment is scheduled for 2025.

Lim Ah Cheng, Executive Chairman & Chief Executive Officer of Dyna-Mac, remarked: “We are very honoured that our long-time repeat customers have chosen to partner with us for the construction of their FPSO topside module projects.

“This is testimony of our ability to execute and deliver projects on time, on budget and in stringent compliance with the safety, security, health and environment standards.”

On the other hand, the rest of the recently awarded contracts include the provision of services to execute fabrication, installation and integration work onboard vessels.

Furthermore, the new order wins will add S$270 million to the firm’s net order book of S$338.1 million (close to $255 million) as of the end of March 2023, bringing the net order book to S$608.1 million stretching into 2025.

Another contract for the construction of the FPSO topside modules brought Dyna-Mac’s net order book in May 2022 to S$641.1 million or around $463.6. million.