Sembcorp Marine Inks $1B Deal to Build World's Largest Semisub Crane Vessel

Sembcorp Marine (SCM) announced Wednesday that it has entered into an engineering and construction contract worth approximately $1 billion with Heerema Offshore Services B.V. (HOS) to build a new dynamic positioning (DP) 3 semisubmersible crane vessel (NSCV). This follows an earlier exclusive letter of intent signed between SCM’s wholly owned subsidiary Jurong Shipyard Pte Ltd and HOS in March this year for the NSCV.

Scheduled for delivery in the fourth quarter of 2018, the NSCV is designed for the installation and decommissioning of major offshore facilities world-wide. It will be equipped with two Huisman heavy-lifting offshore cranes of 10,000 metric tons (MT) lifting capacity each and a large reinforced work deck area. With the vessel length of 722 feet (220 meters), width of 335 feet (102 meters) and displacement of 273,700 MT, the NSCV will be the largest dual-fuel semisubmersible crane vessel in the world.

The NSCV will be built at the Sembcorp Marine Tuas Boulevard Yard, a state-of-the-art yard facility designed to maximize operational synergy and production efficiency. Phase 1 of Tuas Boulevard yard spans 181.1 acres (73.3 hectares) and is equipped with four very large crude carrier (VLCC) drydocks with a total dock capacity of 1.55 million deadweight tons. Phase II spans 85.2 feet (34.5 hectares) and will include a steel fabrication facility and another three dry docks, including an offshore dock measuring 630.1 feet (255 meters) by 271.8 feet (110 meters) where the NSCV will be built.

Jan Pieter Klaver, CEO of Heerema Marine Contractors, said: “We strongly believe in the successful cooperation between Sembcorp Marine and Heerema to build the world’s largest semisubmersible crane vessel. The new vessel's two Tub Mounted Cranes and dual fuel engines will enable Heerema Marine Contractors to offer unparalleled installation and decommissioning services. This will meet our long-term strategy of delivering the best possible services to the global offshore oil and gas industry."

William Gu Wei Guang, head of Sembcorp Marine Rigs & Floaters, said: “We are thankful and pleased that HOS has placed their trust and confidence in Sembcorp Marine to deliver the world’s largest heavy lift vessel. With our new facilities at Tuas that boost deeper quayside draft and wider dock space, we are confident that we will be able to meet our customer’s expectations. This is also in alignment with our strategic vision to penetrate into the deep water draft market segment and also serves as a great testimony to our continuous commitment in providing one-stop, tailor-made solutions to our customers.”

The contract is not expected to have any material impact on the net tangible assets and earnings per share of Sembcorp Marine for the year ending Dec. 31.


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