Singapore Technologies, ST Engineering

Singapore Technologies Engineering: Marine Arm Wins S$171M Contract From Swire Pacific

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June 16, 2011

Singapore Technologies, ST EngineeringSINGAPORE (Dow Jones)–Singapore Technologies Engineering Ltd. (S63.SG) Wednesday said that its marine arm won a shipbuilding contract worth about S$171 million from a unit of Swire Pacific Ltd. (0019.HK).

Under the contract from Swire Pacific Offshore Operations Pte. Ltd., ST Marine will build four anchor handling tug supply, or AHTS vessels, ST Engineering said in a statement to Singapore Exchange.

The first vessel is expected to be delivered in the first half of 2013 while the fourth will be delivered in the first half of 2014.

The four vessels will be able to support the latest generation of semi-submersible rigs operating in deep water and harsh environment, the company said in the statement.

-By Gaurav Raghuvanshi; Dow Jones Newswires


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