08 Aug 2000

SembCorp Marine signs S$66 Million Building Contract for Cable Laying and Repair Vessel

Jurong Shipyard Pte Ltd, a subsidiary company of SembCorp Marine, today announces the signing of a S$66 million contract to construct a cable laying and repair vessel for ASEAN Cableship Pte Ltd. The contract has a further option for additional two identical vessels.

The 9,650 deadweight ton modern cable laying vessel is scheduled for delivery in the first half of 2002. The cable laying vessel will be equipped with various sophisticated and high performance equipment to enable the vessel to perform in severe conditions.

With the expected increase in demand for cable laying, ASEAN Cableship Pte Ltd has plans for further expansion of its fleet to meet the growing demands of the fibre optic network in the cable laying industry.

“The contract marks Jurong Shipyard’s entry into the higher value cable laying market, having established itself as a reputable shipbuilder for the product/chemical tankers and container vessels” said Mr Chew Yam Poey, Executive Director of Jurong Shipyard.

Currently, Jurong Shipyard has an order book of S$210 million for the construction of six units of 1090 TEU container vessels with deliveries scheduled between end 2000 to 2002. It has also recently completed and delivered the 70MW Power Barge, “Estrella Del Mar” to its owner, Wartsila NSD of Finland. The S$7.5 million conversion contract from a bare barge to that of a 70MW Power Barge was completed on schedule and at a record time of four and a half months. The “Estrella Del Mar” was delivered to the owner on July 18, 2000 and left the yard on July 27 for deployment as a floating base load power plant in the Dominican Republic.

For media and investor enquiries, please contact:

Ms Judy Han
Vice President
Investor Relations & Communications
Tel : (65) 6262 7203
Fax : (65) 6261 0738
E-mail: judy@jspl.com.sg