Sembcorp Marine in US$1b contract to build world's largest semi-submersible crane vessel

Mainboard-listed Sembcorp Marine announced on Wednesday that it has signed an engineering and construction contract worth about US$1 billion (S$1.36 bilion) to build the world's largest semi-submersible crane vessel for a unit of Netherlands-based He
Mainboard-listed Sembcorp Marine announced on Wednesday that it has signed an engineering and construction contract worth about US$1 billion (S$1.36 bilion) to build the world's largest semi-submersible crane vessel for a unit of Netherlands-based Heerema Marine Contractors.PHOTO: SEMBCORP MARINE

SINGAPORE - Mainboard-listed Sembcorp Marine announced on Wednesday that it has signed an engineering and construction contract worth about US$1 billion (S$1.36 bilion) to build the world's largest semi-submersible crane vessel for a unit of Netherlands-based Heerema Marine Contractors.

The contract follows a letter-of-intent to build the vessel signed between Sembmarine's wholly owned subsidiary Jurong Shipyard Pte Ltd and Heerema Offshore Services in March this year.

The ship is scheduled for delivery in the fourth quarter of 2018 and will be built at the Sembcorp Marine Tuas Boulevard Yard.

It is designed for the installation and decommissioning of major offshore facilities worldwide, and will have two heavy lifting cranes with a capacity of 10,000 tonnes each.

Sembmarine said the contract is not expected to have any material impact on its net tangible assets and earnings per share for the year ending December 31, 2015.