Mooreast to enhance production with Seatrium facility purchase

Operations in the new facility will start by the end of 2024.

Mooreast Asia will acquire 60 Shipyard Crescent by Seatrium New Energy Limited to serve the growing floating offshore renewable sector. 

Mooreast expects to complete the acquisition and commence operations at the 98,919 square metre (sq.m.) facility by the end of 2024. 

The acquisition, funded through internal resources, will quadruple Mooreast Asia's production capacity in Singapore.

According to Mooreast, the additional capacity will enable it to produce enough subsea foundations to around 1.5 gigawatts (GW) to 2GW of floating offshore wind energy per annum, increasing from 0.5GW. 

The company will use the new facility to fabricate high-value subsea foundations and serve as a logistics hub to handle holding, staging and assembly of equipment and blocks. 

Meanwhile, its 865-metre water frontage will further strengthen the group yard division. It can accommodate specialist vessels for mobilisation and demobilisation for onshore and offshore projects.

The 60 Shipyard Crescent facility is next to Mooreast’s current 30,691 sq.m. yard at 51 Shipyard Road, one of the world’s largest drag anchor manufacturing sites with in-house fabrication capabilities.

The facilities will have a total land area of 129,609 sq.m., with a combined value of right-of-use assets and equipment at approximately $50m, including machinery/equipment.