Swiber awarded floating crane barge project in Indonesia

Singapore firm Swiber Holdings Limited announced on Tuesday that its wholly-owned subsidiary Kreuz Shipbuilding & Engineering Pte Ltd, had been awarded work for the construction and installation of two floating crane barges, each worth approximately US$8.5 to US$9.0 million, for Offshore Bulk Terminal Pte Ltd, a wholly owned subsidiary of OBT Holdings Pte Ltd (OBT).

The two new builds are targeted for delivery in the last quarter of 2008.

The barges will measure approximately 250 feet by 80 feet by 16 feet with a Liebherr CBG 45(45)/32 crane mounted on a pedestal.

Established in 2004 as a joint venture with Singapore-based Mineral Energy Pte Ltd, OBT is an associated company of the Swiber Group, with Swiber holding a 30% interest in the company. OBT primarily provides offshore trans-shipment services for coal and other dry bulk cargo in Indonesia.

A T Suharya the Chairman of OBT said ?Demand for offshore coal trans-shipment services in Indonesia is high and still growing at a brisk pace. OBT is rapidly expanding our number of crane barges in Indonesia in order to feed into this demand and expect to grow our fleet to six by the end of 2008.?

OBT currently operates two crane barges in Indonesia and is expecting the completion of two additional crane barges in the first quarter of 2008, which is at present under construction by Kreuz. The two latest floating crane barges will boost OBT?s fleet size to six by the end of this year.

Swiber is a niche service provider to the Offshore Oil and Gas industry offering a wide and integrated range of offshore EPCIC, marine support and drilling services. (alex)