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ST ENGINEERING BAGS ORDERS WORTH SG$431 MILLION

Wednesday, October 31, 2018 

ST Engineeringís marine sector secured contracts valued at SG$431 million in the third quarter (3Q) 2018. The contracts, including options, are for its shipbuilding business and the groupís ship and rig repair division will be facilitated by ST Engineering yards in Singapore and the USA.

In the US, the Naval Sea Systems Command (NAVSEA) has awarded its US shipyard a contract, including options worth US$244m (about S$331m) for the detailed design and construction (DD&C) of two firm and up to four optional Auxiliary Personnel Lighter Small APL Class Berthing Barges. The anticipated delivery periods of the two firm vessels are in the second and third quarter of 2020, respectively.   The options for the four vessels could be exercised for delivery during fiscal years 2019 to 2022.

In addition, Bouchard Transportation Co., Inc., a long-standing customer has awarded its US shipyard a US$30m (S$40m) new build contract for one firm Articulated Tug Barge (ATB) Tug and an option for a second vessel to be exercised within 1Q2019.  

The ship and rig repair business continued its momentum of winning new projects, securing contracts worth about S$35m for both commercial and naval projects.  Its US repair business, situated next to its shipbuilding Pascagoula yard has gained traction for new orders, as it continues to cross-sell its repair and maintenance services to an expanded pool of customers.

These contracts secured cover a wide-ranging scope - from repair of dredgers, offshore vessels, and oil & chemical tankers, to high engineering content conversion of an anchor handling tug supply vessel to carry methanol instead of cement. 

The sector also secured its first refit on a naval platform for a foreign navy with operations in the Indo-Pacific region.

In June 2018, the Singapore-based engineering group harmonised the corporate brands of its subsidiaries under ST Engineering.  It’s four business sectors operate in the Aerospace, Electronics, Land Systems and Marine industries.

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