Rolls-Royce to supply additional four design and integrated vessel systems to Cosco

Friday, 6 June 2014

COSCO Shipyard Group has announced that it has been awarded options by the Singapore-based Chellsea Group for the construction of four platform supply vessels designed by Rolls-Royce. With this contract, COSCO has ordered integrated design and equipment packages for a total of eight Rolls-Royce UT 771 WP platform supply vessels, with an option for further two.

The first four are currently under construction, while the subsequent four are scheduled for delivery between the second quarter of 2016 and the first quarter of 2017. All eight vessels will be added to the fleet of two UT 755 LN vessels that are already in operation with Chellsea.

Ronny Pål Kvalsvik, Rolls-Royce, Vice President Sales and Contract - Offshore, said: "We have developed a very good relationship with COSCO and Chellsea, and are of course extremely pleased that they have reaffirmed their confidence in both us and the UT-design with this latest contract."

The delivery from Rolls-Royce will comprise ship design and an extensive integrated systems package including MTU-engines, propulsion systems, power electrical systems, bulk handling systems, deck machinery, automation and control system and a dynamic positioning system that uses satellite technology to automatically maintain a vessels position without anchoring.

About Rolls-Royce Holdings plc

  1. Rolls-Royce's vision is to create better power for a changing world via two main business segments, Aerospace and Marine & Industrial Power Systems (MIPS). These business segments address markets with two strong technology platforms, gas turbines and reciprocating engines, for use on land, at sea and in the air.
  2. Aerospace comprises Civil Aerospace and Defence Aerospace. MIPS comprises Marine, Energy & Nuclear and Power Systems (RRPS). On 7 March 2014, Daimler announced their intention to exercise their option to sell their 50% share in RRPS to Rolls-Royce Holdings plc. On 16 April 2014, the valuation was agreed and the transaction is expected to complete within the coming months, subject to the usual regulatory approvals. On 6 May 2014 Rolls-Royce announced it had signed an agreement to sell its Energy gas turbine and compressor business to Siemens for a £785m cash consideration. On completion, expected before the end of December 2014, Rolls-Royce will receive a further £200 million for a 25 year licensing agreement.
  3. Rolls-Royce has customers in more than 120 countries, comprising more than 380 airlines and leasing customers, 160 armed forces, 4,000 marine customers, including 70 navies, and 1,600 energy and nuclear customers.
  4. Our business is focused on the 4Cs:
    • Customer - placing the customer at the heart of our business
    • Concentration - deciding where to grow and where not to
    • Cost - continually looking to increase efficiency
    • Cash - improving financial performance.
  5. Annual underlying revenue was £15.5 billion in 2013, around half of which came from the provision of aftermarket services. The firm and announced order book stood at £71.6 billion at 31 December 2013.
  6. In 2013, Rolls-Royce invested £1.1 billion on research and development. We also support a global network of 31 University Technology Centres, which position Rolls-Royce engineers with the forefront of scientific research.
  7. Rolls-Royce employs over 55,000 people in 45 countries. Over 17,000 of these are engineers.
  8. The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills. In 2013 we employed 379 graduates and 288 apprentices through our worldwide training programmes.

For further information, please contact:

Anette Bonnevie Wollebæk
Senior Communications Manager - Marine, Nordic Region
Mobile: +47 976 70 882
Email: abw@rolls-royce.com

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