Singapore shipyard Strategic Marine has clinched a newbuild contract from WEM Marine for two 27-metre crew transfer vessels (CTVs) for work in the offshore wind sector in Europe.
The deal includes a funding solution for UK based offshore support vessel provider WEM Marine that provides an end-to-end package from shipbuilding construction to post-delivery financing, Strategic Marine said.
The company added that the contract is its first with WEM.
The CTVs will be built in Singapore and are expected to be delivered by May 2021.
The vessels will powered by two Caterpillar C32 engines driving fixed pitch propellers and be able to carry 24 technicians and three crew.
Strategic Marine chief executive Chan Eng Yew said: “We are delighted with this new partnership with WEM as it is a significant milestone for us in building up our presence again in the renewable energy sector.
“The last 18 months have been an exciting journey as we have reconnected with many of our old customers who have welcomed us back.
“With our superior technical expertise and experienced team in place, we are confident of delivering quality offshore support vessels to service the growing renewable energy market.
“This is also the first time we can offer comprehensive and flexible financial solutions in conjunction with our newbuild contracts which has been very well-received.
“We understand that securing financing for offshore assets in this economic climate is quite challenging. However, for qualified operators, we see this as an opportunity to deliver additional value and can certainly bridge that gap for them.”
WEM Marine managing director David Ford said: “Strategic Marine is well known for building industry leading CTVs for the offshore wind industry and throughout our dealings with them, they have demonstrated the highest level of professionalism so we are pleased to award them the contract.
“As the demand for clean energy grows, so does our need to invest in future-ready OSVs which addresses energy efficiency and emissions head-on.”