Singapore Technologies Engineering (ST Engineering), through its subsidiary Halter Marine, has been awarded the second Polar Security Cutter (PSC) contract from the US Department of the Navy.
In April 2019, Halter Marine won a contract to build up to three icebreaker vessels for the US Coast Guard, beginning with a US$746 mil ($1 billion) ship scheduled for delivery in 2024.
The contract includes options that can be exercised by the US Navy for the second and third vessels. The total contract value, inclusive of all three ships, amounts to US$1.9 billion ($2.6b).
The vessels are 460 feet in length with a beam of 88 feet overall, a full load displacement of about 22,900 long tons at delivery.
In a press release dated Dec 30, ST Engineering states that the award of the second contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of the company for the current financial year ending December.
As at 9.24am, ST Engineering shares are down 1 cent or 0.27% lower at $3.75.
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Photo: Albert Chua/The Edge Singapore
