Coastal hits it for six


Kuala Lumpur: Malaysian offshore firm Coastal Contracts has announced that subsidiaries, Coastal Offshore and Thaumas Marine Ltd, have secured a six new contracts between them for the sales of six offshore support vessels at a total of close to RM318m.
The orders are made up of one subsea support maintenance vessel, one platform supply vessel and four anchor handling tug supply vessels, with deliveries of all vessels expected this year and next.
Ng Chin Heng, executive chairman of Coastal, commented: "As of to date, the cumulative vessel sales orders secured in FY2013 alone amounted to approximately RM1.35 billion, which is approximately two times of the Group’s total vessel sales orders secured in FY2012 which amounted RM698 million. This is a strong indicator for the Group’s rebound momentum, which is benefiting from the currently booming oil and gas sector." [22/10/13]

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