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Keppel Singmarine bags S$265m contract to build ice-class vessel

Thursday, January 15, 2015 - 18:13
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Keppel Offshore & Marine's wholly-owned subsidiary, Keppel Singmarine, has clinched a contract worth S$265 million to build New Orient Marine's first ice-class multi-purpose vessel.

KEPPEL Offshore & Marine's wholly-owned subsidiary, Keppel Singmarine, has clinched a contract worth S$265 million to build New Orient Marine's first ice-class multi-purpose vessel.

New Orient Marine is the subsidiary of Luxembourg-based Maritime Construction Services SA.

Vessels with an ice class have a strengthened hull to enable them to navigate through sea ice.

Designed to operate in ambient temperature as low as minus 30 degree Celsius, this vessel will have an 'Ice Class Arc 5' notation and capabilities such as 'Class 3' dynamic positioning and diving support functions.

To date, Keppel Singmarine has built seven ice-class vessels for the Arctic and Caspian regions. In addition to the contract from Maritime Construction Services, its orderbook currently stands at four ice-class vessels.

On Thursday, Keppel Corporation's shares closed unchanged at S$8.10.