Dyna-Mac has landed the largest ever contract in the company’s history, taking its orderbook to a record S$896m ($663m).
In a series of contracts with project deliveries stretching to 2026, a well-known maker of FPSO, FSO and FSRU topside modules said it had secured an order from an undisclosed client involving a record tonnage and number of process modules in a single contract.
The contract follows the Singapore-based fabricator’s move to secure additional yard facilities to address the spikes in floating production, storage and offloading (FPSO) vessel module fabrication demand.
Last year, the company signed a memorandum of understanding with fellow offshore vessel operator and marine engineering services provider Kim Heng, giving it an option for two yards with a combined waterfront of 205 m and in January, it secured access to yard facilities of about 4.5 hectares along Gul Road with the acquisition of Exterran Offshore.
“Group’s recent capacity expansion and upgrading allow further optimisation of construction methodology and production workflow. These steps will increase Dyna-Mac’s productivity, using lesser manpower and time needed for the same amount of work,” the company noted in a stock exchange filing.
Dyna-Mac said that in addition to its biggest deal to date, several other recently secured contracts include execution, fabrication, installation and integration work on vessels, and scope increase for current projects.
