ST Engineering's marine arm secures $431 mil in new contracts for 3Q18

SINGAPORE (Oct 31): ST Engineering says its marine arm has secured $431 million worth of new contracts for 3Q18. This is the first time in almost two years that the group is providing information on orders for its marine segment. 

The contracts include options for its shipbuilding business, as well as the ship and rig repair segments for progressive deliveries at its yards in Singapore and the US.

The group’s US shipyard has secured a contract from the Naval Sea Systems Command (NAVSEA) worth US$244 million ($331 million) for the detailed design and construction (DD&C) of two firm and up to four optional small APL (Auxiliary Personnel Lighter) class berthing barges.

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