Dyna-Mac to Construct FPSO Topsides for Unnamed Client

Singapore-based Dyna-Mac has secured several contracts, including an order to construct topside modules for an FPSO vessel.

Dyna-Mac said that it had recently secured contracts worth a total provisional sum of S$88.0 million from unnamed repeat customers.

The main contract involves the construction of topside modules for an FPSO. Dyna-Mac will start the construction of the topside Modules in the first quarter of 2024 and will utilize the new yard space recently secured. 

The project is expected to be completed in the third quarter of 2025, after which Dyna-Mac will ship the module to China for integration with the vessel. 

The other contracts include the provision of services to execute fabrication, installation, and integration work "on vessels."

These new order wins will increase the net order book to S$630.7 million, with project delivery stretching into 2025. 

"The group remains encouraged by the strong level of inquiries received from both existing and new customers. The above new orders are not expected to have a material impact on the group’s earnings per share and net tangible assets for the current financial year ending December, 31, 2023," Dyna Mac said.

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