Singapore-based Zicom Group has secured orders worth S$60mn (US$45mn) to design and supply LNG propulsion systems for oil product tankers, it said on February 2.  

The systems will be for several vessels being built for an undisclosed European oil tanker owner. These vessels are built to DNV GL classification and the delivery is scheduled for 2022-2023. 

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The company said that the growth prospect for its technology is expected to be strong due to recently introduced international shipping regulations by the International Maritime Organisation (IMO) that require all ocean-going vessels to reduce sulphur emissions from engines. 

Zicom said that demand in the offshore marine sector appears to be showing some positive signs. “However, immediate short-term resurgence in demand for our deck machinery is not apparent. Prospects in gas processing projects continue to remain strong,” it said.