Atlantic Navigation and Oceanus awarded $45.2m decommission project

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 worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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