ST Engineering's US shipyard wins $350m ConRo vessels contract from Crowley

Construction begins in 1H 2014.

Singapore Technologies Engineering Ltd (STE) has announced that its US Shipyard, VT Halter Marine, Inc has won a shipbuilding contract from Crowley Maritime Corporation (Crowley) to build two Container ROll-on/Roll-off (ConRo) vessels, reported OCBC.

The value of this contract is in the region of US$350m (~S$420m).

The vessels will be built at the Pascagoula facility in the US, with construction taking place in the first half of 2014 with deliveries in mid and late 2017.

"While there is no material impact to near-term earnings, we still see the contract as a testament to STE's shipbuilding capabilities," said OCBC.

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