Pan-United Marine secures deals worth S$35 millionYard News // November 25, 2005
The Directors of Pan-United Marine Limited in Singapore have announced that the company has secured new shipbuilding contracts for the construction of two 75 ton bollard pull AHTS from its repeat customer, Tidewater Marine. The combined value of the contracts is approximately S$35.0 million.
Delivery of the vessels is estimated to be within 21 months after the effective date of the contract for the first vessel and an interval of 3 months for the second vessel.
While these contracts are expected to contribute positively to the Group's earnings, they are not expected to have any material effect on the earnings per share and net tangible asset value per share of the PUM Group for the current financial year ending December 31st 2005.