ASL Marine Wins Contract for Self-elevating Barge

Singapore-based ASL Marine Holdings Ltd., through its ASL Shipyard Pte Ltd subsidiary, won a US$6.8 million (S$10.8 million) contract from Swiber Offshore Pte Ltd. to build a self-elevating barge scheduled for delivery by June 30, 2007.

“We are pleased to secure this shipbuilding contract from a repeat customer,” said Ang Kok Tian, ASL Marine’s executive chairman and managing director. “ASL Marine has good working relationship with Swiber and we look towards enhancing our cooperation with Swiber with more of such collaborations together.”

When asked about the current growth momentum in the industry, Ang replied Positively. “We are seeing sustained demand for the offshore support vessels building market,” he said. “We believe that the increased level of activities in the marine and offshore sector is sustainable and the trend is likely to continue in 2007.”

ASL Marine Holdings Ltd. is a vertically-integrated marine Group principally engaged in shipbuilding, ship repair and ship chartering, and other marine-related services, catering to customers from Asia Pacific, South Asia, the Middle East, and Europe. It has a young fleet of more than 100 vessels comprising tugs and barges.

Started in 1996, Swiber Offshore Pte Ltd. is a niche service provider to the offshore oil and gas industry, with a complementary business in the supply of marine support vessels. The Swiber Group offers a full suite of engineering, procurement, construction, installation, and commissioning services customized to cater to the different needs of its customers in the oil and gas industry.