ST Marine clinches S$446m in new orders

Singapore yards are bustling with projects.

Singapore Technologies Engineering Ltd (ST Engineering) announced that its marine arm, Singapore Technologies Marine Ltd (ST Marine) has secured new orders worth about S$446m in the fourth quarter of 2013.

ST Engineering said these orders are in addition to the recent contract worth about US$350m won by our US shipyard, VT Halter Marine, Inc for the design and construction of two units of Container Roll-on/Roll-off vessels and the bareboat charter contract for the Roll-on/Roll-off Passenger vessel to Nova Star Cruises Limited.

The contracts are for logistics management, maintenance, major upgrade and conversion projects, which will be carried out in the Singapore yards. On shiprepair and upgrading, ST Marine has secured and delivered a series of contracts to support the offshore industries. These include repairs and upgrade of various types of offshore support vessels such as drillship and pipe-laying vessels.

Aside from the maintenance and shiprepair contracts, our environmental business unit based in Shanghai was awarded a contract to design a Pneumatic Waste Collection System for a mixed high-rise commercial and residential development in Zhongshan, Guangzhou, China.

These contracts are not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.