Singapore: Singapore offshore operator Pacific Radiance has come a long way in a short time. Tracing its roots back to 2002 when it started off as Strato Maritime Services, involved in chartering and technical management, the group bought its first ship in 2004, and rebranded as Pacific Radiance in 2006. Nowadays, including joint ventures, Pacific Radiance owns and operates a total of 138 vessels, a mixture of tugs, barges, AHTSs, PSVs and saturation dive support vessels.
Besides its internationally trading vessels, the company controls around 60 Indonesian flagged vessels through joint ventures and associate companies.
There’s 14 new vessels set to join the Pacific Radiance fleet this year, another seven penned in for 2015, and according to managing director James Pang more are set to be signed soon.
The group is involved in plenty more besides vessel ownership including project logistics and the design and fabrication of winches, cranes and other equipment used in the offshore industry. Furthermore, a new 30,000 sq m repair yard is set to open next year in Singapore with two dry docks.
In terms of spreading its geographical reach, Pang tells Maritime CEO he is “very excited” by prospects in Mexico, and West Africa, specifically Nigeria, Congo and Angola have good potential. Pacific Radiance has been operating in East Africa for the past three years.
Pang says the company’s preferred model is working with partners and entering areas with high growth and then building up fleets fast. Expect plenty more ships to be ordered soon. [21/03/14]
NEED TO KNOW: Pacific Radiance
Founded 12 years ago now one of Southeast Asia’s largest offshore operators with 138 vessels afloat and another 21 to deliver.