Strategic Marine Sells 2 More 'On Spec' Crew Boats

Two more aluminium crew boats being constructed "on spec" by Australian shipbuilder Strategic Marine have been sold, indicating the company's calculated decision to meet rising demand for offshore vessels in international shipping markets is paying dividends.

The new order from Malaysian offshore servicing company Dinastia Jati Sdn Bhd, is for two 40m utility vessels which will be built at Strategic Marine’s Singapore yard.

The crew boats, which have top speeds in excess of 25 knots, are scheduled for delivery in July and September next year.

Strategic recently doubled the size and capacity of its Singapore yard to 2,400sqm to enable it to go ahead with the construction of six speculative 40m crew boats.

The company announced last June it was planning to build eight crew boats, two of which were immediately ordered by Western Australian company Samson Maritime These vessels are due for delivery in May and June next year.

Strategic is confident it will sell the other four “on spec” boats it is planning to construct -- two of them 40m vessels to be built in Singapore, and the other two 52m vessels to be constructed at Strategic Marine’s recently opened Mexican yard at Mazatlan.

"Offshore market demand currently far exceeds supply, coming third in terms of vessels on order globally behind tankers and cargo ships, and making up about 21 per cent of the international shipbuilding industry’s business," said Strategic Marine Director Ron Anderson.

"Our Singapore yard has specialised in constructing crew boats since 2005, building up a great deal of experience and expertise in the process, and regularly delivering to clients well ahead of schedule," Anderson said.

Strategic Marine has a strong history of repeat orders from reputable companies and government organisations such as Syarkitat Borcos Shipping, Svitzer and EMAS Offshore.

Meanwhile, Strategic has been awarded the contract to outfit one of two 143m steel Dive Support Vessels (DSVs) under construction at its massive yard at the Dong Xuyen Industrial Zone in Vietnam.

Construction work on the hulls of the two vessels, on order from Singapore company Marfield Ltd, is already well advanced. Now Strategic has signed a contract to carry out mechanical and electrical installation, HVAC and outfitting for the first of the Marfield vessels.

Strategic Marine has received orders for 139 vessels over the last two years, with a total contract value of US $283 million.

If contracts are signed for the four remaining “on spec” crewboats, the total value of the company's contracts will rise to more than US $300 million.

The company has delivered over 350 vessels on time or ahead of schedule, focusing on providing high quality vessels and project management, as opposed to gross tonnage.