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Keppel Corp: Van Oord dredger contracts are worth S$212m

KEPPEL Corporation said the newbuild contracts its offshore and marine unit has won from Van Oord are valued at about S$212 million.

The value of the contracts awarded to Keppel Singmarine for two dual-fuel powered dredgers is about S$212 million, excluding owner furnished equipment, the conglomerate said in response to a query from the Singapore Exchange.

Van Oord has an option with Keppel Singmarine to order a third dredger of similar specifications to the first two. But the price of this third vessel will be subject to adjustments and would be finalised and determined if and when Van Oord exercises the option, it added.

Keppel Corp first announced the contracts from Van Oord on May 21.

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