Media Reports

    CIMC Raffles lands decom vessel deal  date:2016-12-02

    Chinese yard CIMC Raffles has concluded a deal with Shandong Twin Marine (STM) to build the world’s first TML System-design offshore installation vessel, targeting the offshore decommissioning market.


    Xu Yihe


    18 Nov 2016 08:39 GMT Updated 18 Nov 2016 08:41 GMT


    The DP3 unit will be made of three semi-submersible vessels with multiple cranes, with total lifting capacity of 34,000 tonnes. Two of the vessels are for installation and decommissioning and one for transportation.

    Sources said both CIMC Raffles and STM are approaching markets for possible contracts for decommissioning of a number of aging offshore fields.

    It is not clear when the new vessel will be delivered, pending charter contracts, sources said.

    STM is believed to be a joint venture between Norway’s Twin Marine Heavylift (TMHL) and Shandong Shipping Corporation in eastern China’s Qingdao city. State-owned Shandong Shipping was established in 2010 with a registered capital of $500 million.

    Stavanger-based TMHL was established in 2010 after it acquired Twin Marine Lifter technology, which has two DP3 vessels that also can be used for heavy transportation, construction support, subsea intervention, pipelay and accommodation.

    Norway’s SeaMetric in 2007 ordered two similar units for construction at China Petroleum Liaohe Equipment Corporation’s (CPLEC) yard in Panjin city in north-east China, but SeaMetric cancelled the deal in 2009, citing building delays and a lack of expertise at the yard.