Sembcorp Marine wins landmark WITV project

The project will be completed by early 2025.

Sembcorp Marine, through its wholly-owned subsidiary Sembcorp Marine Rigs & Floaters has secured a contract for the construction of a wind turbine installation vessel (WTIV) based on Sembcorp Marine's in-house design in collaboration with a customer.

With this contract win, Sembcorp Marine strengthened its position in the renewable energy segment, validating its strategy to transform itself into an innovative engineering solutions provider in the offshore, marine and energy industries with a strategic focus on sustainability. The contract win has also leveraged its strong heritage in the design and construction of offshore structures, platforms and specialised vessels, as well as wind farm solutions such as offshore substations, cylindrical floating foundation solutions for next-generation offshore wind turbines, WTIV, zero-emission battery-powered/hydrogen fuel cell-powered vessel, LNG-battery hybrid tugs and Gravifloat LNG export and import terminals.

Sembcorp Marine Rigs & Floaters senior vice president Wong Teck Cheong said, "We are grateful for the confidence our customer has placed with Sembcorp Marine to bring this breakthrough WTIV design to the offshore wind market. The group looks forward to continuing the close collaboration with our customer to execute this project and contribute to the pace of energy transition."

The aforementioned contract will not have any material impact on the net tangible assets and earnings per share of the group for the year ending 31 December 2022.