ST Engineering’s marine arm scores new orders worth $344m in Q4

The contracts cover ship repair and engineering.

ST Engineering’s marine unit ST Marine has secured new orders worth about $344m for its ship repair and engineering groups in 4Q15.

According to ST Engineering’s media release, the contracts cover major upgrades, conversion, maintenance, and repair of vessels in naval and commercial segments. These vessels include patrol vessels, pipe-laying vessels, accommodation and work barge, oil and chemical tankers, and a cruise ship.

Further, the new orders include logistics management services.

“These projects are being carried out in the Singapore facilities, and will be delivered progressively over the next two to six years,” stated the media release.

The company reportedly does not these contracts to have material impact on the consolidated net tangible assets per share and earnings per share for the current financial year.