Atlantic Navigation and Oceanus awarded $45.2m decommission project

Singapore’s Atlantic Navigation Holding has announced that a consortium between its subsidiary, Atlantic Ship Management, and South Korea’s Oceanus, in which it has a 49% interest, has been awarded a $45.2m project for the purchase and removal of decommissioned offshore and onshore facilities by a Middle Eastern national oil company.

The project will be jointly managed and operated by both parties under the consortium and Atlantic Navigation will be responsible for providing about seven vessels to support the offshore phase of the project.

The project is expected to start in June 2017 and to be completed within 18 months.

“The company’s effort in pursuing the project is part of its corporate strategy to diversify and increase its market penetration in the oil and gas sector in addition to its existing core marine logistics business,” said Bill Wong, executive chairman and CEO of Atlantic Navigation.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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