An Oriental Precision & Engineering Affiliate Signs a 42-Million-Dollar Deal

Dalian Oriental Marine & Industry (“OMI”), Oriental Precision & Engineering’s (“OPCO”) Chinese subsidiary has secured a 42-million-dollar contract for a 4,999DWT bunker tanker from a ship owner in Singapore. The tanker will be 90 meters long, 17.5 meters wide, 8.7 meters deep and have the cruising speed of 11 knots; and will be used to transport MFO(marine fuel oil). The construction project is to begin as OMI receives its first payment from ABS, a classification society in Singapore.

The news of contracts and sales by OPCO and its affiliates are reported one after another with the year having just begun—the mixed result of OPCO’s aggressive sales effort in the special-purpose vessel market and the recovery of the shipbuilding industry.

This month’s contract can be credited to OMI’s many years of experiences and an excellent record of completing many special-purpose vessel projects in the past, and the OMI spokesperson has stated that the company will endeavor to satisfy the client and deliver only the best quality product. OMI was established in August of 2003 in the Liaoning Provincial Development Zone in the city of Dalian, China with the capital of 52.5 million US Dollars. The company specializes in building special-purpose ships and maritime superstructures including accommodation barges, skid barges, hopper barges; and also the hull blocks and deckhouses for super-scale marine vessels.