Icon Offshore secures accommodation workboat contract

Icon Offshore secures accommodation workboat contract

Malaysian operator Icon Offshore has secured a long-term charter contract for an accommodation workboat from Brunei’s SPHI Marine.

The contract will commence on March 1 for a period of three years with an option for an extension period of up to two years. The total contract value is about RM72.06m ($16.2m).

In January, Malaysian offshore drilling services company UMW Oil & Gas entered into a deal to acquire 42.3% shares of Icon Offshore and 95.5% shares of tanker operator Orkim from Ekuinas. UMV explained the rationale behind the acquisitions as an opportunity to spearhead the call for industry consolidation.

The consolidation of the three companies is expected to create a fleet of seven jack-up rigs, one semi-submersible rig, 37 OSVs, 14 clean petroleum product vessels and two liquefied petroleum gas marine transportation vessels.

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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