WEM orders CTV couple from Strategic Marine

The UK-based WEM Marine has ordered two new crew transfer vessels (CTVs) from Singapore’s shipbuilder Strategic Marine.

The 27m CTVs will be powered by two Caterpillar C32 engines driving fixed pitch propellers and will be able to accommodate 24 technicians and three crew members.

The vessels will be built in Singapore and are expected to be delivered by May 2021.

According to Strategic Marine, they have been designed to meet the specific requirements of WEM who intends to deploy the vessels in European waters.

The contract also includes an arrangement with financial investors providing WEM with an end-to-end package from shipbuilding construction financing to post-delivery financing, the company said.

“We are delighted with this new partnership with WEM as it is a significant milestone for us in building up our presence again in the renewable energy sector,” said Strategic Marine’s CEO Chan Eng Yew.

“This is also the first time we can offer comprehensive and flexible financial solutions in conjunction with our newbuild contracts which has been very well-received. We understand that securing financing for offshore assets in this economic climate is quite challenging. However, for qualified operators, we see this as an opportunity to deliver additional value and can certainly bridge that gap for them.”