ST Engineering marine arm obtains S$560 million new contracts in 4Q18

Singapore 50 dollar bill

ST Engineering said on Monday that its marine arm obtained new contracts valued at S$560 million in the fourth quarter of 2018.

One contract was for fast patrol boats for the Singapore Police Coast Guard, awarded by the Ministry of Home Affairs, it said in a filing to SGX after the market close on Monday.

The contract was to design, build and maintain the fast patrol boats, with construction expected to begin in mid-2019, ST Engineering said.

The company also obtained a contract jointly with Siemens for a SCC-800 2X1C SeaFloat barge-mounted power plant from Seaboard Corp. subsidiary Transcontinental Capital Corp. (Bermuda), which is an independent power producer in the Dominican Republic, it said.

Floating power plant

Under the contract, ST Engineering will handle the engineering, design, procurement and construction of the floating power barge, the balance of the plant and the installation of the floating power plant, it said.

Siemens will provide a combined cycle power plant with a 145 megawatt capacity and deliver its hybrid SIESTART product, which combines a flexible gas turbine combined cycle power plant with a battery energy storage system, the filing said.

The “SeaFloat” project will be completed in ST Engineering’s shipyard in Singapore and is expected to provide the customer with a power plant at lower cost than a similar land-based plant, it said. Once it is completed in the third quarter of 2020, the barge will be transported to its final destination for hot commissioning before final delivery, it said.

Desalination plant

ST Engineering said it was awarded the mechanical and electrical contract for Singapore’s fifth desalination plant, which follows obtaining the engineering, procurement and construction contract in April 2018.

In the U.S., a foreign government awarded ST Engineering a contract for the detailed design and construction of two firm Logistics Support Vessels, or LSVs, the company said, noting the vessels will repeat designs of an earlier LSV, with some enhancements.

ST Engineering’s U.S. shipyard also received a contract from the Naval Sea Systems Command, or NAVSEA, related to the new T-AGS 67 Oceanographic Survey Ship, with completion expected by May 2019, the filing said.

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