Coastal Contracts sells three vessels, eyes jack-up rigs

Kuala Lumpur: Coastal Contracts have secured sales for three offshore support vessels and two workboats valued at around RM178m.
The two OSVs were sold to a repeat customer, with the other OSV and two workboats were sold to new customers with all of the vessels are expected to be delivered in 2014 and 2015. 
Ng Chin Heng, executive chairman of Coastal, commented: “With the current strong vessel sales order book and the recent win of jack-up gas compression service unit charter contract, FY2014 shall be a busy year to Coastal Group.  In addition, currently we are in the progress of clinching a contract for our maiden jack-up rig which is scheduled for delivery in quarter three this year.  We are quite optimistic on clinching our first jack-up rig contract this year.” [31/03/14]

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