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Keppel Singmarine to build three dredgers at S$100 million

KEPPEL Singmarine, a wholly-owned subsidiary of Keppel Offshore & Marine, has won contracts from Jan De Nul Group to build three trailing suction hopper dredgers (TSHDs) worth about S$100 million in all.

The first two dredgers are expected to be completed in H2 2018, while construction of the third dredger will require a notice within six months from Jan De Nul to exercise the option for the dredger.

To be built to Jan De Nul's design, the dredgers will be able to dredge to a maximum depth of 27.6 metres, and have a hopper capacity of 3,500 cubic metres. The two dredgers will be built to the requirements of classification society, Bureau Veritas, in Keppel Nantong Shipyard, a subsidiary of Keppel O&M.

Jan De Nul, a long-standing customer of Keppel O&M, has been commissioning the yard group for newbuild dredger projects and ship repairs.

Keppel Singmarine's managing director, Abu Bakar, said: "We are always on the lookout to add value to our customers and markets, and this project is a natural extension of Keppel Singmarine's strong track record and expertise in specialised vessels. This is also in line with our efforts to deepen our presence in non-oil and gas markets where we can leverage our capabilities."

A TSHD is mainly used for dredging loose and soft soils such as sand, gravel, silt or clay. The dredged material can be deposited on the seabed through bottom doors or discharged through a floating pipeline to shore and used for land reclamation.

Robby De Backer, Jan De Nul Group's director of newbuilding department, said the compact dredgers commissioned with Keppel Singmarine will go to maintenance work for coastal restoration and "a variety of land reclamation work around the world".

The Jan De Nul contracts are not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation for the current financial year.