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Sembcorp Wins $140M RoRo Conversion Contract

Rob Almeida
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December 19, 2011

sembcorp logoSINGAPORE (Dow Jones)–Singapore-listed Sembcorp Marine Ltd. (S51.SG) said Monday its Sembawang Shipyard unit secured a US$140 million conversion contract from Norway’s Equinox Offshore Accommodation Ltd. (EQNX.NO).

The unit will convert a roll on/roll off passenger vessel named ARV3, which is expected to arrive in its shipyard in January 2012, to a DP2 Accommodation and Repair Vessel.

In a filing with the Singapore stock exchange, Sembcorp Marine said the vessel would be “uniquely designed and equipped to provide extensive accommodation and workshop facilities to support and service offshore facilities and projects in deep water areas.”

The company said the vessel would be completed in the fourth quarter of 2012 and the contract isn’t expected to have any material impact on the earnings per share and net tangible assets of Sembcorp Marine for the year ending Dec. 31, 2011.

-By Matthew Allen, Dow Jones Newswires

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