Singapore shipbuilder ASL Marine has revealed it has won SGD140 million (USD100 million) worth of contracts.
The contracts, announced on 27 August, are to build tugs and barges for overseas customers in the mining and marine infrastructure sectors.
The vessels will be built in ASL’s yards in Singapore and Indonesia.
Also on 27 August, ASL posted a profit of SGD7.93 million for financial year 2015 (FY 2015), which ended on 30 June. This was sharply down from SGD22.12 million in FY 2014.
The shipbuilder said profits plunged as the offshore and marine industry sank into difficulties, resulting in cancellation of two offshore support vessel orders.
As at 30 June, ASL has an outstanding orderbook of SGD356 million for 20 vessels, which will keep it busy until FY 2018.
The vessels on order include OSVs, tugs, and barges.