Pan United Marine Expands Orderbook with Recent Award

Pan-United Marine Limited has clinched a US$49.5 million contract to construct a specialized offshore support vessel with a 180-meter diving support at its Batam shipyard. Not only is PUM's orderbook expanding, it is undertaking one of the largest new builds in the region.

Said Executive Director Ng Sing Chan said: "As exploration and production venture into ever deeper waters, size does matter this will be one of the biggest construction vessels with DP3 capabilities to be built in this part of the world. This contract shows that PUM is well-positioned to capture a good slice of the high-end specialized vessel shipbuilding segment."

The latest contract boosts PUM's outstanding orderbook above S$470 million. The value of the vessel, expected to be delivered in 3Q08, is estimated at above US$130 million, including the cost of owner-furnished equipment.

Added Mr. Ng: "This is the fourth contract from our repeat customer. The building of this large diving support and construction vessel will be a significant achievement for our Batam yard, attesting to our ability to build highly specialized vessels with high engineering content for the oil & gas sector.

The vessel, designed for diving operations, will be equipped with a 1,600-ton revolving pedestal crane and two 100-tonne revolving cranes for heavy lifting and pipe-laying projects in offshore support projects for the oil & gas sector.

The Batam shipyard had successfully completed the building of a 140-meter DP3 diving support and construction vessel in January 2003.

PUM has shipyard facilities offering quality, cost-effective, customer-focused products and services. It operates an 11ha Singapore yard, Pan-United Marine, and PT Pan-United Shipyard Indonesia, on a 22ha yard in Tanjung Uncang, Batam. The yards lie close to the Straits of Malacca, one of the world's busiest shipping lanes.

Both yards achieved ISO 9001:2000 certification in the quality management of the design, building, conversion, and repair of ships and offshore & onshore engineering structures. Over 70% of ship repair revenue is from repeat clients in international ship owning, operating, and management.

PUM has built over 150 vessels, customizing vessel design and new builds of up to 30,000 dwt and 250m in length. Its ship conversions include sophisticated and complex conversions from lengthening and major modification to retrofitting.


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