SembCorp Marine's Subsidiary Jurong SML Bags US$32 Million Shipbuilding Deal

UAE, Dec 20, 2004

Jurong SML, SembCorp Marine’s mid-sized shipyard has secured a shipbuilding deal worth US$32 million to construct two units of 4,950 dwt tankers for Kuwait Oil Tanker Company S.A.K. (KOTC).

The double hull tankers, each measuring 83.5m x 19.0m x 8.2m will have a 4,000 hp medium speed engine with UMS notation. Classed under Lloyd’s Register and in compliance with the latest IMO requirements, each tanker will have five decks of accommodation block at the aft with eighteen single man cabins fully equipped with air conditioning and heating facilities.

The single screw tankers are built to meet the special transportation needs of KOTC within the Middle East region, including bunkering and ocean going services. 

Designed to handle various grades of Heavy Fuel Oil and Marine Diesel Oil, the cargo tanks are equipped with stainless steel heating coils. Work on the new tankers will commence in February 2005 with delivery scheduled in the second quarter of 2006.

Mr Freddie Woo, Executive Director of Jurong SML said “The award of the contract is significant as this is the first time that we are building tankers for Kuwait Oil Tanker Company, a first class international client based in the Middle East. It is indeed an endorsement of Jurong SML’s technical capabilities and quality standards. We have to-date successfully delivered several vessel types comprising fast patrol vessels, container ships, clean product tankers and harbour tugs.”

The contract is not expected to have any material impact on the net tangible assets and earnings per share of SembCorp Marine for the year ending December 31, 2004.
 
 
For media and analysts enquiries, please contact:
 
Ms Judy Han
Vice President
Investor Relations & Communications
Tel No: (65) 6262 7203
Fax No: (65) 6261 0738
Email: judy@sembcorpmarine.com.sg

About Jurong SML

Jurong SML, a fully owned subsidiary of SembCorp Marine is a mid-sized shipyard specialising in the repair of small and medium-sized vessels, afloat and anchorage repairs and the construction of mid-sized vessels, including coastal and container vessels, clean product tankers and harbour tugs.  
 
About Kuwait Oil Tanker Company
 
Kuwait Oil Tanker Company S.A.K. (KOTC) is the transportation arm of state- owned Kuwait Petroleum Corporation (KPC). The company’s main activities include ownership and management of tankers engaged in the transportation of crude oil, refined petroleum products and liquefied petroleum gases (LPG). The company also owns a modern fleet of Very Large Crude Carriers (VLCC), petroleum product tankers and LPG carriers to maintain a strategic coverage of KPC’s oil exports to all corners of the globe.

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