UK-based WEM Marine has signed shipbuilding contract with Singapore-based Strategic Marine for the construction of two crew transfer vessels.
The contract includes an arrangement with financial investors providing WEM with an end-to-end package including construction finance, leasing option arrangements and investor equity funding with flexible purchase options.
Delivery of the vessels are expected in May 2021.
“We are delighted with this new partnership with WEM as it is a significant milestone for us in building up our presence again in the renewable energy sector. The last 18 months have been an exciting journey as we have reconnected with many of our old customers who have welcomed us back,” said Strategic Marine’s CEO Chan Eng Yew.
WEM is a UK-based offshore support vessel provider with a growing fleet of vessels servicing the offshore wind energy sector.
“As the demand for clean energy grows, so does our need to invest in future-ready OSVs which addresses energy efficiency and emissions head-on,” said WEM Marine’s managing director David Ford.