Coastal Contracts adds six

Kuala Lumpur: Offshore shipbuilder and operator Coastal Contracts Bhd has announced that subsidiaries, Coastal Offshore and Thaumas Marine, have collectively secured contracts for the sales of three OSVs and three tugboats.
 
All the vessels are expected to be delivered in 2014 and 2015. The new contracts are valued at around RM180m bringing Coastal's sizeable book to RM2.4b, split evenly between vessel sales and charter contracts.
 
Ng Chin Heng, executive chairman of Coastal, remarked:  “We anticipate that 2014 will see continued global economic growth, with both Europe and United States playing an influential role. As for the industry outlook, we foreseen both shallow and deep-water offshore activity is likely to propel OSV demand further in the medium term, especially for higher specification OSV.” [19/06/14]

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