NEWBUILDING CONTRACTS SIGNING CEREMONY

GustoMSC NG-1800X SELF-PROPELLED JACK-UP

On 30 December 2015, Thong Yong Marine Group (“TYM”) and China Merchants Industry Holdings Co.Ltd (“CMIH”) held a construction contracts signing ceremony for 2 + 2 units of the GustoMSC designed NG-1800X self–propelled jack-up, and the NG-1800X steel-cutting ceremony for the first two units was subsequently held on 17th August 2016. This is the second batch of a series of self-propelled jack up vessels that TYM would be constructing with CMIH, according to the Strategic Cooperation Agreement that was signed between TYM and CMIH in December 2014 (“Agreement”). As part of this Agreement, TYM and CMIH had in December 2014 signed the contract for the construction of 1 + 1 units of the Gusto-designed NG-2500X self–propelled jack-up.

The NG-2500X contract was the first cooperation between TYM and CMIH, officially marking the entry of TYM Group into the market of offshore wind power installation and maintenance, oil field services and maintenance, as well as the provision of other high-end marine engineering services. The recent signing of the NG-1800X contracts signifies the on-going cooperation between TYM and CMIH, further strengthening TYM’s position in this market segment.

The first unit of the NG-2500X is expected to be delivered in 1Q’ 2017, while the first and second units of the NG-1800X are expected to be delivered in 1Q’ 2018. The NG-2500X and NG-1800X are designed by GustoMSC, one of the leading design and engineering companies involved in all types of mobile units/vessels for the offshore industry. The jack-ups built for TYM by CMIH are ABS-classed, and incorporate main equipment from reliable and top quality international brands. The living quarters can house 150 persons and are designed to hotel standard. The living quarters on NG-2500X meets the HAB standards requirement. Being equipped with DP2 dynamic positioning system, the jack-ups can independently complete the installation and maintenance of offshore wind energy infrastructure, installation and maintenance of offshore oilfield equipment, and offshore construction support.

TYM Group was founded in Singapore in 1981. TYM’s key business is now in the chartering of vessels, providing logistics support and maintenance services to the dredging industry, offshore oilfield services and offshore renewable energy sectors.

Gusto NG-1800X Specifications (pdf)

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