Sembcorp Marine's colossal crane vessel deal reportedly worth over $1.38b

It defeated seven other yards to bag the contract.

Sembcorp yesterday revealed that it has inked a letter of intent (LOI) for the construction of the world;s largest semi-submersible crane vessel. Though the deal’s price has not been disclosed, DBS estimates that the vessel could cost over $1.38b (US$1b) in total.

DBS also noted that Sembcorp Marine defeated seven other yards for the potential contract win. Other yards said to have been in the running were the Korean trio - Samsung Heavy Industries, Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering, Chinese players - CMHI Yiulian, Cosco Shipyard and CIMC Raffles, and Singapore's Keppel Offshore & Marine.

“This potential win is also a testimonial to SMM’s execution and track record. As some of the equipment may be owner furnished, we are not able to ascertain the portion attributable to SMM. Nonetheless, it will be a sizeable contract when finalised,” stated DBS.