Singapore offshore vessel operator and marine engineering services provider Kim Heng has picked up nine secondhand ships for a bargain price of $9.28m.
The company’s 49%-owned indirect subsidiary, Ruhm Mazu Sdn Bhd, has agreed to the purchase of one 400-pax accommodation barge, one special service offshore support vessel, four anchor handling tug supply vessels and three offshore support vessels.
Kim Heng said the unnamed vessels will be refurbished at the group’s two shipyards and sold for profits and/or chartered out.
“With the acquisition, the group will be able to position and meet the growing demands from the marine and offshore and the renewables sector. The consideration will be funded by a combination of internal resources and bank borrowings,” the company said in a regulatory filing.
Kim Heng owns and operates a wide range of offshore vessels and cranes for both sale and rent, including crawler cranes, lorry cranes and mobile cranes to support marine offshore services and wind farm installation.
