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Keppel Singmarine Wins AHTS Contract

Maritime Activity Reports, Inc.

November 15, 2005

AHTS Coloso built and delivered to Gulfmark Offshore earlier this year.

Keppel Singmarine, a builder of offshore support vessels, won a $230 million contract to build six new Anchor Handling Tug/Supply (AHTS) vessels for Gulfmark Offshore. Two of these six 10,700 bhp AHTS vessels of 2,700 dwt each will be built in the Keppel Nantong Shipyard. This is the first contract for Keppel’s newly acquired shipyard in China. The first vessel is expected to be delivered in the third quarter of 2007, with the final delivery in the third quarter of 2008. Customized to Gulfmark’s requirements, the six vessels were designed by Keppel’s Marine Technology Development (MTD) and are being built to meet the growing demand of Gulfmark Offshore’s customers in Southeast Asia. Keppel Singmarine successfully delivered two AHTS vessels, Coloso and Titan, also of MTD design, to Gulfmark Offshore in the first quarter this year.

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