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Keppel secures ice-class LNG bunker vessel contract

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LNG Industry,


Keppel Offshore & Marine Ltd (Keppel O&M) has, through its wholly-owned subsidiaries, Keppel Singmarine Pte Ltd (Keppel Singmarine) and Keppel Shipyard Ltd (Keppel Shipyard), clinched contracts worth a combined value of about S$300 million.

These contracts include the design and construction of an ice-class LNG bunker vessel and are not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the current financial year.

Chris Ong, CEO, Keppel O&M, said, “These new contracts are testament to Keppel O&M’s expertise in the building, upgrading and conversion of a wide range of vessels. They also extend our track record in refurbishment and modification projects, which are a core part of our business.”

“Keppel O&M also stands ready with a suite of advanced and cost-effective solutions such as scrubber retrofits and LNG-fuelled vessels, as the International Maritime Organisation implements the 0.5% global sulfur cap on marine fuel from January 2020.”

The LNG bunker vessel contract was signed by Keppel Singmarine with Shturman Koshelev LLC for the design and construction of an ice-class LNG bunker vessel. When completed in 4Q 2020, the vessel will be chartered to Gazpromneft Marine Bunker Ltd (Gazpromneft) for operations in the Baltic Sea. The contract complies with applicable sanctions.

The vessel will be built to the MTD 5800V LNG design, a proprietary design of Keppel O&M’s ship design and development arm, Marine Technology Development (MTD), and will have an Ice Class Arc 4 notation and a cargo capacity of 5800 m3.

This project leverages Keppel O&M’s strong track record in ice-class vessels, experience in cryogenics, and comprehensive suite of solutions along the gas value chain. Keppel O&M has delivered 11 ice-class vessels to-date and is currently building LNG-fuelled vessels including South East Asia’s first LNG bunkering vessel.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/02012019/keppel-secures-ice-class-lng-bunker-vessel-contract/

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