Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned subsidiary, Keppel Nantong Shipyard Co. Ltd (Keppel Nantong) in China has secured a contract worth S$143 million to build a heavy lift sheerleg crane vessel for Asian Lift Pte Ltd (Asian Lift).
Scheduled to be completed in 3Q 2013, the 5,000-tonne floating crane will be the largest and most versatile heavy lift sheerleg crane vessel of its kind in the world. To be named Asian Hercules III, the self-propelled vessel will have enough power to lift a weight equal to over 5,000 saloon cars.Mr Lee Tai Kwee, President of Keppel Nantong said, "Keppel and Asian Lift have a winning partnership that has been instrumental to the success of both companies. We are proud to continue this mutual growth with the construction of the world's largest sheerleg crane. Such cranes are essential equipment for the efficient operation of our shipbuilding and offshore construction work.
"Keppel Nantong has established a track record in specialised shipbuilding, some of which are harbour tugs and anchor handling supply vessels for Smit. The construction of Asian Hercules III adds another dimension to the versatility and capabilities of the yard, and we look forward to delivering it on time, within budget and in a safe manner."Upon delivery, Asian Hercules III's first assignment will be in Singapore. She will serve the offshore oil and gas as well as marine markets in South East Asia. The vessel will measure 106m long and 52m wide with a hook height of at least 172m.
Mr John Chua, General Manager of Asian Lift added, "We believe that Asian Hercules III will play an important role in serving the industry where heavy lift activities are essential. South East Asia is an important market, especially with the high volume of offshore and marine projects being contracted here. With the weight of modules and other components increasing, Asian Hercules III will be well placed to meet the needs of the market for greater lifting capacity. "Having worked with Keppel for many years, we are confident of Keppel Nantong's ability to successfully deliver this crane and add to our highly-capable fleet." Asian Lift's fleet of floating cranes includes the 400-tonne Asian Helping Hand lll, the 1,600-tonne Asian Hercules and the 3,200-tonne Asian Hercules II.
Keppel Nantong is currently undertaking the construction of six 45-tonne bollard pull twin-screw Azimuth Stern Drive (ASD) tugboats for Keppel Smit Towage. They are being built to Keppel O&M's proprietary design, developed by its technology unit, Marine Technology Development. The above contract is not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the current financial year.
