Strategic Marine (S) Pte Ltd in Singapore, part of Strategic Marine Holdings Pte Ltd, has secured a contract for two 27-m crew transfer vessels (CTVs), complete with comprehensive financing solution, for WEM Marine Ltd
The contract includes an arrangement with financial investors providing WEM with an end-to-end package from construction to post-delivery financing.
WEM is a UK-based vessel provider with a growing fleet of vessels servicing the offshore wind energy sector. This is its first order with the Strategic Marine Group.
Having been acquired by new investors in May 2019, Strategic Marine has unveiled a suite of financial services for its customers. The new financing solutions offered to WEM include construction finance, leasing option arrangements and investor equity funding with flexible purchase options.
The CTVs will be built in Singapore and are expected to be delivered by May 2021. The 27-m CTVs are designed to meet the requirements of WEM, who intend to deploy the vessels in European waters.
The vessels will be powered by two Caterpillar C32 engines driving fixed pitch propellers providing a robust and efficient propulsion system; 24 technicians and three crew can be accommodated on board and personnel transfer to wind turbines will be facilitated by an active fendering system.
Riviera is producing a range of technical and operational webinars and virtual events with the industry’s foremost experts. Sign up to attend on our events page.