SINGAPORE (Oct 7): Keppel Corp's subsidiary Keppel Offshore & Marine says units Keppel Shipyard and Keppel Nantong Shipyard Co. have won contracts from repeat customers worth a total of $153 million.
Keppel Shipyard’s contract is for the conversion of a Floating Production Storage and Offloading (FPSO) vessel for Armada Cabaca, a subsidiary of Bumi Armada Berhad, while Keppel Nantong’s contract is to construct a submersible barge for Smit Shipping Singapore, a subsidiary of Royal Boskalis Westminster Group.
Keppel Shipyard has started work on the FPSO conversion for Bumi Armada which should be completed in 2Q 2016.
The work scope includes refurbishment and life extension works, upgrading of living quarters to accommodate 100 personnel, installation and integration of an external turret mooring system and topside process modules.
The FPSO will have a storage capacity of 1,700,000 barrels.
Upon completion, the FPSO will be stationed northwest of Luanda, Angola.
Work in China has also started for the barge that Keppel Nantong is building for Smit Shipping.
The new barge, Giant 7, will be the third such unit to be delivered by Keppel to the marine services company.
Giant 7 will join the first two units, Giant 5 and Giant 6, which are still undergoing construction, to be deployed off the Pilbara coast of Western Australia.
Giant 7 should be completed in 2H 2015, while Giant 5 and Giant 6 are on track for completion in end 2014 and early 2015 respectively.
The above contracts are not expected to have any material impact on the net tangible assets and earnings per share of Keppel for the current financial year.
Keppel closed 0.9% lower at $10.31.
No comments:
Post a Comment