Daewoo International, the trading arm of POSCO, announced on May 25 that it has won a large shipbuilding order in cooperation with Sungjin Geotec, another POSCO affiliate. Under the deal with Swire Pacific Offshore (SPO) of Singapore, Daewoo International will build a $20 million offshore supply vessel (OSV). Daewoo International and Sungjin Geotec will deliver the vessel to SPO within one year.
Sungjin Geotec specializes in offshore plant equipment and modules for global energy markets.
An offshore supply vessel is used for diving assistance or oceanographic surveys for offshore oil platforms. Amid a worldwide boom in marine energy exploration, OSVs are becoming increasingly important.
“The victory was a result of Daewoo`s extensive overseas network and information power, combined with specialized technologies of Sungjin, which has long been involved in the OSV market,” Daewoo International said in a press release. “This will be remembered as a good example of how partnership between different POSCO affiliates can create synergy“.
“The partnership with Daewoo International was the key ingredient to winning the contract,” a Sungjin representative commented. Sungjin Geotec plans to strengthen its ties with Daewoo International to expand its presence in global OSV markets.
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Seabed AS was founded in 2008 by Mr Hans Martin Gravdal, who has more than 30 years of experience within a wide range of subsea operations. Mr Gravdal and his team will continue with the company which is to be renamed Swire Seabed AS.
Along with the acquisition, SPO will take ownership of Seabed Worker, the 88m state of the art Multi-Purpose Support Vessel, and the high-specification subsea ROVs held by Seabed AS.
Neil Glenn, Managing Director of SPO, said, “We are very pleased to announce the acquisition of Seabed, through which we will increase our capabilities and extend the range of services we are able to offer to our customers. We look forward to working closely with Mr Gravdal and his team in Norway as they continue to grow and develop the business.”
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