Malaysian offshore firm Coastal Contracts Bhd has announced that subsidiary, Thaumas Marine Ltd, has sold an Anchor Handling Tug Supply and a Subsea Support/Maintenance Vessel at a total value of approximately RM170m.
Ng Chin Heng, executive chairman of Coastal, said: “We are optimistic about the steady growth of Offshore Support Vessel in the future, given that OSV is a moderately developing market with no other substitutes currently available which makes it the backbone of the oil and gas upstream segment.”
These vessels are scheduled for delivery up to 2014 and Coastal currently has close to RM1.2b worth of vessel sales orders awaiting delivery to customers.