Dyna-Mac secures new order at provisional sum of S$197 million from BW Offshore
Tuesday 25 May 2021
The Board of Directors of Dyna-Mac Holdings Ltd. (“Dyna-Mac” and together with its subsidiaries, the “Group”) wishes to announce that the Group has secured a fabrication project from BW Offshore group , a repeat customer, for a total estimated contract value of S$197 million.
The contract with a wholly-owned subsidiary of the BW Offshore group is for the supply, fabrication and construction of Topside Modules for the Barossa Floating Production Storage Offloading (FPSO) vessel, which will be operating in offshore Darwin in northern Australia.
Adding this contract win, Dyna-Mac’s order book stands at S$368 million as at date of announcement, with deliveries up to year 2023.
The Group is currently evaluating the need to expand its yard capacities and is increasing its local and overseas fabrication capacity to fulfill potential demand in FPSO topside modules, LNG and hydrogen / ammonia production modules.
The above order is not expected to have a material impact on the Group’s earnings per share and net tangible assets for the current financial year ending 31 December 2021.