Sembcorp Marine bags first polar expedition ship design contract

Sembcorp Marine subsidiary LMG Marin has secured its first polar expedition cruise ship design contract, signed with Brodosplit Shipyard of Croatia. The ship will be constructed for Quark Expeditions, which specialises in expeditions to the Arctic and Antarctic aboard purpose-built expedition vessels. It is scheduled for completion by the third quarter of 2020.

LMG Marin will deliver a basic design package in the contract with Brodosplit Shipyard.

The polar expedition cruise ship, designated LMG 200-PCS, is the result of a close cooperation with Quark Expeditions and its partners. At 128 metres in length, it has a capacity of 200 passengers and 116 crew members.

The vessel is tailored for operations in polar and distant regions, and will be built according to DNV-GL polar class PC(6) standard. It will have an unrivalled level of safety and is fully compliant with Safe Return to Port requirements, in addition to a life boat capacity accommodating all persons on board.

The cruise vessel also features a top deck with infrastructure for two helicopters that will offer passengers a unique flight experience; cabins with large windows or private balconies; a comfortable spa and wellness area; and two restaurants.

“Passenger ships have always been an important market for us,” LMG Marin Managing Director Mr Torbjørn Bringedal said. “Throughout our 75 years of operation, we have designed more than 100 ferries, RoPax vessels and passenger vessels of various kinds, built at shipyards worldwide. The contract with Brodosplit for Quark Expeditions’® new polar expedition cruise ship marks an important breakthrough for LMG Marin in our focus on larger RoPax and passenger vessels.”

Sembcorp Marine President and CEO Mr Wong Weng Sun said, “We are pleased that LMG Marin has won its first polar expedition cruise ship design contract. This major milestone reinforces the company’s arctic ship design capabilities which, coupled with Sembcorp Marine’s engineering expertise, will be critical to our future business opportunities and growth. We look forward to many more successes from LMG Marin.”

A fully-owned subsidiary of the Sembcorp Marine Group since 2016, LMG Marin originated several key designs that are now part of the latter’s portfolio of engineering solutions. These include the next-generation Espadon drillships under construction for Transocean; the Floating Storage and Offloading vessel (FSO) Ailsa recently delivered to TOTAL for deployment in the harsh-environment UK North Sea; and the Gravifloat modular LNG and LPG platform solutions that are a cost-competitive alternative to FSRU, FLNG and land-based terminals.

The above mentioned contract is not expected to have a material impact on the net tangible assets and earnings per share of Sembcorp Marine Ltd for the current financial year.

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