Sembawang Shipyard Secures 3 LNG Repair Contracts
Sembcorp Marine's Sembawang Shipyard wins FSO, LNG carrier repair contracts worth S$130 million
The first contract awarded by Sonangol Pesquisa e Produção S.A calls for he major repairs and upgrading of the 20-year- old FSO Palanca.Major work scope includes the renewal of the vessel’s cargo piping system and pumps, tank blasting and coating, and cables renewal for the entire electrical system. The existing 30-men accommodation block will be re- designed and rebuilt to accommodate 60 men. The new accommodation block will include a new helideck to meet the vessel’s operational requirements.
The vessel is expected to enter Sembawang Shipyard in August 2012 and, upon completion, will return to Palanca Terminal in offshore Angola.
In addition has been awarded tow LNG carrier life extension projects by North West Shelf Shipping Service Company, Australia (NWSSSC).
The 20-year-old LNG vessels Northwest Seaeagle and Northwest Sandpiper are scheduled to enter Sembawang Shipyard in June and September 2012 respectively for major repairs and upgrading which, when completed, will further extend the vessels’ trading lives for another 10 years or more.
The above contracts are not expected to have any material impact on the earnings per share and net tangible assets per share of Sembcorp Marine for the year ending December 31, 2012.
