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.
