Sembcorp Marine enters into US$1b contract to build vessel

RIGBUILDER Sembcorp Marine said on Wednesday morning that it has entered into an engineering and construction contract worth US$1 billion to build a ship for marine contractor Heerema.

The contract follows a letter of intent signed in March this year to build the semi-submersible crane vessel.

The ship is scheduled for delivery in the fourth quarter of 2018.

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.

Sembcorp Marine closed at S$2.81 a share on Tuesday, down a cent.