Kim Heng wins long-term charters for AHTS pair

Kim Heng Offshore & Marine has sealed one-year charters for its two of its three anchor handling tug supply vessels, Bridgewater 131 and Bridgewater 132.

The contract commences this month, with a leading oil major in Malaysia, with the vessels recently coming off 60-day spot charters in East Malaysia.

Thomas Tan, executive chairman and CEO of Kim Hong, commented: “Our management has a forward-looking perspective to establish a strong position in the Oil & Gas sector to readily seize new market opportunities for better growth prospects. As the oil prices recently rallied to $70 per barrel, we believe we are well positioned for the eventual upturn in the oil industry to secure more contracts in the region.”

Kim Heng picked up the three anchor handlers last June from troubled OSV owner Swiber, currently under judicial management, for a bargain price of $9.6m.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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