Pacific Radiance secures $140m charter contract

Singapore: Offshore vessel operator Pacific Radiance Ltd. has announced that is has secured a long term charter contract for one of its vessels ahead of its expected delivery in 2016/17. 
 
The contract is worth over $140m including extension options, and was secured by joint venture company DOT Radiance Pte. Ltd. The vessel, in early stages of construction, will be chartered to a new client to perform offshore support services in an emerging market. 
 
Pang Yoke Min, executive chairman of Pacific Radiance, said: “To have a contract signed for a vessel two to three years ahead of its delivery affirms our strong industry network as well as understanding of our clients' needs to build market relevant vessels.”
 
Last week Pacific Radiance reported a 57% growth in net attributable profit ($63.6m) for the nine months ended 30 September 2014. [17/11/14]
 
 
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