Vallianz Holdings has been awarded a time charter contract valued at up to $63m for the supply of two offshore support vessels to a national oil company (NOC) in the Middle East.
Vallianz said it will supply two AHTS vessels to the company for a period of up to seven years. The first vessel is expected to be deployed in the Arabian Gulf during the third quarter of 2016 while the second vessel is schedule for deployment in the first quarter of 2017.
The new contract takes the company’s chartering orderbook to $950m.
“We are pleased to win this contract after the NOC awarded a $98m contract to the group in December last year. This clearly demonstrate the good working relationship we have established with the NOC and the customer’s coniting confidence in the group’s ability to provide best-in-class support for its offshore oil and gas production activities,” said Ling Yong Wah, CEO of Vallianz.
Vallianz posted a net profit of $5.5m for the first quarter of 2016, slightly down from the $5.6m posted in the same period of 2015.