Singapore’s Kim Heng Offshore and Marine has sold three of its vessels to Bridgewater Marine, an offshore wind joint venture set up by the company in Taiwan.
The steel barge vessels Kim Heng 186, Kim Heng 1860 and Kim Heng 85 were sold for a total price of S$3m ($2.26m).
Kim Heng formed Bridgewater Marine with Taiwanese local firm Lian Hao in 2020, and holds 49% in the company. The company mainly provides chartered vessel services for Taiwanese offshore wind farm operators.
Kim Heng said the vessels will provide support for the installation of horizontal directional drilling conduits by Hung Hua Construction, and the company will be able to utilise the vessels to capture other offshore business in Taiwan.