550backboneJES' shipyard in Jiangsu will be busier with the inflow of contracts announced this year. NextInsight file photo.

JES International, a Singapore-listed shipbuilder based in the PRC, said it has secured contracts plus options worth close to US$1.0 billion in the latest deal. 
 
The new contract for the construction of six 64,000 dwt Ultramax bulk carrier includes options for 30 other similar vessels, and is an order from a company registered in British Virgin Islands backed by two private investment funds.

The delivery of 6 vessels under the contract is expected to take place from December 2015 to January 2016 whereas the delivery of the vessels under the options, if exercised from 2015 onwards, is expected to take place from late 2016 onwards. 
 
orders5.14Orders and options won so far this year.This new contract comes on top of JES securing, earlier this year, a contract for the construction of 4 Newcastlemax bulk carriers and 2 Post-Panamax bulk carriers, plus options to construct 4 Newcastlemax bulk carriers and 3 Post-Panamax bulk carriers.

With the latest deal, year-to-date JES has secured confirmed orders of US$432.0 million with options outstanding worth another US$1.1 billion (see table for breakdown).

“We are pleased to announce that we have just secured our largest contract fleet to date, marking our fourth contract win in under 5 months.

"We have witnessed higher level of activities in the shipbuilding sector and we are optimistic that our world class yard is well-poised to further tap on more opportunities emerging from this trend. 
 
"Going forward, we will continue to seek for more opportunities in order to maintain our order winning momentum,”  said Mr. Jin Xin, Chairman and Chief Executive Officer, JES.

Recent story: JES INTERNATIONAL: 'World-class' mine has > US$500 billion of resources



 

OrTohWatOr Toh Wat, MD of OKP Holdings. Photo: CompanyOKP Holdings has won a S$50.6 million contract from the Public Utilities Board, the national water agency, to construct Stamford Diversion Canal, Contract 1 – Tanglin and Kim Seng.  

The project involves the construction of a canal underneath the road and road-raising works at Tanglin and Kim Seng Road areas.  

Mr Or Toh Wat (胡土发), the Group MD said, “We are pleased to secure this contract as it is testament to our civil engineering expertise.

Our extensive experience and track record in projects of such complex nature allow us to consistently grow our pipeline of projects.”  

This contract covering 42 months commences in June 2014, upping OKP’s net construction order book to S$240.2 million, lasting till 2017.

Recent story:  OKP's net cash at $42 m, LINC ENERGY explains directors' share sales
 

 

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