Keppel Offshore & Marine Secures Contracts

Keppel Corporation Limited, through its offshore and marine units in Keppel Offshore & Marine Ltd (Keppel O&M), have clinched contracts worth a total of S$45 million. A specialised shipbuilder, Keppel Singmarine, has won two contracts to build and deliver two 45-tonne bollard pull harbour tugs to PSA Corporation Ltd and a 5500 BHP AHTS vessel to Hadi H. Al-Hamman of Saudi Arabia. The latter contract is the fourth vessel to be contracted by this owner since the first was delivered in early 2002. Meanwhile, Keppel Shipyard has also won a major refit job for the replenishment tanker RFA Bayleaf from UK’s Royal Fleet Auxiliary Service. This follows the successful extended survey and repair of the landing ship RFA Sir Tristram in May this year. “These repeat customers have come to put their trust in both Keppel Singmarine and Keppel Shipyard’s high quality services at competitive rates”, said Mr Tong Chong Heong, Managing Director & Chief Operating Officer of Keppel Offshore & Marine. A leading offshore and marine engineering group, Keppel O&M has a network of 16 yards worldwide including Singapore, USA, Brazil, Azerbaijan, Kazakhstan, Philippines, UAE, The Netherlands and Norway. The contracts secured are not expected to have any significant impact on the net tangible assets and earnings per share of Keppel Corporation for the financial year ending 31 December 2003.