Singapore-based Kim Heng Marine & Oilfield has signed an MOU with offshore marine services contractor Dyna-Mac known for FPSO module construction, which Kim Heng will support on a preferred partner basis to carry out various projects occasionally.
The deal includes an option for Dyna-Mac to secure the use of Kim Heng’s yard facilities at agreed tariff rates for the entire term of the MOU. Kim Heng's two shipyards in Singapore have a combined waterfront of 205 meters.
"This win-win partnership offers Dyna-Mac greater flexibility to address the spikes in FPSO vessel module fabrication demand and allows it to further entrench its strategic presence in the FPSO module fabrication business through inorganic growth of its production capacity.
Through the collaboration, Kim Heng will also benefit by participating in larger, more complex, and valuable projects tapping on Dyna-Mac’s know-how and client base in the FPSO module fabrication business," Kim Heng said.