ST Marine Reels in $3MM ROV Conversion Contract

Singapore Technologies Marine Ltd (ST Marine) has been awarded a $3 million contract from Bluestone Offshore, a Singapore-based company specializing in deepwater geotechnical analysis. This is Bluestone's first vessel as it enters into the subsea market's niche segment of deepwater geotechnical analysis.

ST Marine will convert Bluestone Topaz, a ROV cum Platform Supply Vessel, to a geotechnical survey vessel at its main yard in Benoi. ST Marine is the marine arm of ST Engineering, one of the largest companies listed on the Singapore Exchange.

Bluestone Topaz, measuring 72m in length with a 6.5m depth and maximum deadweight tonne of 2,180, is expected to be redelivered by end 2008. ST Marine's retrofitting work includes the construction of a new moonpool complete with cover as well as to fabricate and install a new mezzanine deck, tween deck and platform. The vessel will be upgraded and equipped with a derrick system capable of operating in water depths of up to 1,800 meters, suitable for major offshore locations.

"We are assured by ST Marine's fine track record and look forward to the successful delivery of a sound vessel to sail smoothly into the deepwater geotechnical analysis market," commented Olaf Venema, CEO of Bluestone.

"ST Marine is very happy to win this competitive tender to start a new relationship with Bluestone. We are proud to be Bluestone's trusted partner in supporting their future needs as it enters the subsea market.," added Chang Cheow Teck, President of ST Marine.