Singapore: Drydocks World Southeast Asia Private Limited (DDW-SEA), the Southeast Asian subsidiary of Drydocks World, has clinched new builds and conversion orders worth more than $200 million (Dh734.4 million) since the start of this year.
After a worldwide lull in conversion contracts in 2009, DDW-SEA won two major contracts in January.
The first is an upgrade from a crane barge to an accommodation barge for Leighton Offshore, and the second is a container ship to livestock carrier conversion for a Saudi Arabian customer Hamood Al Ali Al Khalaf Trading and Transporting Est.
Other new build orders clinched by the company include two dumb barges for PT. Kumala Barito Utara and a RoPax Catamaran (designed by Sea Transport Solutions of Australia) for an Australian client, Islands Transport Holdings.
High value
The livestock carrier conversion is a particularly high value contract worth more than $60 million (Dh220.3 million) involving some 5,500 tonnes of steelwork, DDW-SEA believes it can secure similar work in future.
Work on the new builds and conversions will be undertaken at DDW-SEA's Batam yards Graha, Pertama and Nanindah and at its Singapore yard at Tuas.
Work will start later this year and all projects are due for delivery in 2011-2012.
DDW-SEA chief executive officer Denis Welch said: "The diversity of the business won reflects the efforts that we are putting in to ‘cast the net wide' in searching for orders.
"The market has been through a very tough 12 months, but the last quarter [January to March] has seen signs of an upturn in both new building and conversion inquiries and I am pleased to say this is reflected in the orders we have received."
Prompt delivery
He noted that the priority for DDW-SEA for the rest of 2010 was to deliver vessels currently on order at its yards on time and budget and to secure more orders similar to those won in the first quarter.
"I am sure that if we can continue to win this kind of quality business, then 2010 is going to be a stronger year for the company," he added.
Given the anticipated improvement in market conditions and in line with its focus on continual improvements, DDW-SEA has recently employed an imaginative solution to upgrading and expanding its facilities at its Drydocks World Singapore shipyard in Tuas.
This has involved moving a number of its operations into a 10,000 square metre factory at 36 Tuas Crescent, across the road from the main yard, and linking the factory to the shipyard by a pedestrian bridge.
"We continue to have confidence in the bright future for both the industry and the region and our expansion at Tuas will greatly enhance efficiency at the yard, improve working conditions for our employees and will certainly add to the value we can give our customers," Welch added.
