Dubai's Drydocks World wins $100m offshore energy contract

19/10/2010 - Dubai Investment News
Dubai's Drydocks World wins $100m offshore energy contract

Posted by Bob Brunskill

Drydocks World, the Dubai-based shipbuilding and offshore fabrication firm, has won a $100.4 million contract to build four platform supply vessels (PSV) for Tidewater Marine, a leading provider of marine support services for the offshore energy industry.

The vessels will be built at DDW- Nanindah shipyard at Batam in Indonesia with the first unit targeted for delivery in 18 months time, followed by the rest every two months, Drydocks said in a statement.

Under the terms of the contract, Tidewater has the option to place orders for four more PSV units to be built at DDW-Nanindah on the successful completion of the first four vessels.

"This contract is recognition of Drydock World's capabilities as a resilient ship builder and the international maritime industry's vote of confidence in our expertise," said chairman Khamis Juma Buamim.

"It is a testimony to our proven leadership within the industry and capability built on strong foundations based on years of experience in handling diverse projects of varying complexity."

Drydocks World claims that its flagship facility in Dubai is the largest, cutting-edge ship repair, conversion and new building facility between Europe and the Far East.

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