Singapore: Fast expanding Jaya Holdings is looking at expanding its geographic footprint to enter the markets in Australia, India, Mexico and Brazil.
Jaya Holdings ceo Venkatraman Sheshashayee told SeaShip News that this expansion would take place in a “planned, staged manner”. Jaya already has a strong presence in Southeast Asia, Africa and the Middle East.
Jaya has a mixed offshore support fleet of 28 vessels and a further eleven on order.
Its offshore engineering services division is looking at moving into ship repair and then into fabrication and engineering services, Sheshashayee revealed.
On the current OSV market conditions Sheshashayee admitted: “The market continues to suffer from historical overhang. Vessels continue to be delivered from Chinese and other Asian yards, still keeping the supply-demand equation slightly adverse. We hope to see this improve in the coming months.”
As well as an owner Jaya is a notable builder of various offshore support products.
“With our recent alliance with IHC Merwede, we hope to further move up the value ladder in our offerings to our clients,” Sheshashayee said.
Jaya is going ahead with expansion plans at its Batam yard as its jv with IHC Merwede progresses. The expansion, by around one third in size, will allow Jaya to build OSVs up to 150 m long.
The two companies joined forces in July to combine the Singapore-listed company’s established presence in Asia with the Dutch firm’s engineering prowess.
They hope to win orders for larger more complex offshore support vessels in the region, the pair said in a briefing note issued this week. [19/10/12]