Rolls-Royce on a Roll with Equipment Supply Contracts
Wednesday, July 16, 2008
Rolls-Royce has won £84 million of contracts to supply propulsion equipment for offshore vessels being built in China and Korea.
The orders mark the continuing strength of the offshore sector for Rolls-Royce and reflect the company's growing presence in the Asian marine market, which is the biggest in the world for commercial merchant ships.
The company has won a £44 million order to supply propulsion equipment for a ship especially designed to drill for oil in the harsh environment of the Arctic. In addition, it has also signed a £40 million contract with Fujian
Mawei Shipbuilding in China for the delivery of propulsion and control systems for 18 offshore supply vessels. Rolls-Royce has been increasing its marine business in Asia in recent years and has factories in Shanghai and Busan, Korea.
Stena Drilling, which placed the contract for the Arctic drilling ship, has also ordered Rolls-Royce thrusters for three other ships of this type and has reserved an option for a fifth vessel. The ship will be built at Samsung Shipyard in Korea alongside two other vessels of the same class. Twelve of the vessels being built at Fujian Mawei Shipbuilding in China have been ordered by the American ship owner Tidewater.
"Strong, long term relations with our customers, a well proven product range that meets current requirements in the market, and the company's ability to adjust according to our customers needs, is what these latest orders in Asia are based upon," said Anders Almestad, Rolls-Royce President, Offshore.