Marco Polo Marine inks US$27mn ship-building deal

The shipbuilder to build 2 Units of 5,400bhp AHTS to PT Pelayaran National Bina Buana Raya.

Singapore Exchange Mainboard-listed Marco Polo Marine Ltd (“MPM”), a growing integrated marine logistic group, is pleased to announce that the Group has secured two ship building contracts from its associated company, PT Pelayaran National Bina Buana Raya (“BBR”), each for the construction of a 5,400bhp AHTS worth about US$13.5 million. The two units are expected to be completed and delivered in late 2012.

Upon delivery, these vessels will be flagged as Indonesian vessels and be deployed by BBR to provide services to the booming offshore oil and gas industries in Indonesia, according to a Marco Polo Marine report.

Mr Sean Lee, the CEO of the Group, commented, “With the booming oil and gas industries in Indonesia, our effort in putting our footprint in the industries is well paying off. Going forward, we will continue to leverage with our shipyard facilities to expand our fleet in the industries and benefit from the brisk demand in this region.”