Emas Offshore, part of Singaopore’s Ezra Holdings, has been awarded $32m of new charter contracts during the fourth quarter of 2016, bringing its new business for 2016 to $97m. Additionally it had secured $61m of new contracts that fall into the first quarter of 2017.
The new charters are for both AHTS vessels and PSVs to support oil companies in various projects located in Asia and West Africa. The only other details provided are that the contract durations range from less than a month to 3 years.
Captain Adarash Kumar, CEO of EMAS Offshore, commented: “While the Group has been able to secure contracts, we expect the market environment to remain challenging. While we are expanding our presence in West Africa, Asia Pacific will still remain our main market. We
remain committed to maintaining our rate of vessel utilisation.”
Emas Offshore is currently in the middle of closing a much-needed refinancing deal with lenders, while also locked in negotiations with Malaysia’s Perisai Petroleum Teknologi regarding a $43m put option on a stake in joint-owned company SJR Marine.