AsiaOffshore

$140m Pacific Radiance newbuild charter delayed

Singapore offshore support vessel operator Pacific Radiance says that a charter it won in 2014 for a newbuild vessel due to commence upon delivery of the vessel “in 2016/17” has been delayed.

The charter deal with an unnamed client, has been delayed until December 31, 2017. The parties involved have also agreed to market the vessel for alternative employment in the meantime.

Pacific Radiance says the deal is worth $140m including extension options.

Earlier this week Pacific Radiance announced that executive director Mok Weng Vai was arrested last Friday by Singapiore’s Corrupt Practices Investigation Bureau and subsequently released on bail.

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Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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