Vallianz inks new contracts worth up to US$458 mln, lengthening the charter duration for 19 OSVs in the Middle East
Vallianz Holdings Limited, a fast growing provider of offshore support vessels and integrated marine solutions to the oil and gas industry, has signed new contracts valued up to US$458 million that has lengthened the charter duration for 19 of its offshore support vessels (OSV) currently deployed to an existing customer in the Middle East , which is one of the world’s largest national oil companies
The Group presently has 15 Anchor Handling Tug Supply (AHTS) vessels and 4 Platform Supply Vessels (PSV) supporting the offshore oil and gas operations of the NOC. With the new time charter contracts , which modify certain terms in Vallianz’s previous contracts with the NOC , these vessels will continue to be deployed to the customer until June 2018 , with an option to extend for two more years until June 2020.
Vallianz presently owns a fleet of 39 vessels operating in the Middle East, Asia Pacific and Latin America n markets. In addition, the Group has a 49% - owned associate company, PT Vallianz Offshore Maritim, which operates another 20 vessels in the cabotage - protected market in Indonesia.
In December 2014, Vallianz was awarded a US$97 million time charter to supply a customized Offshore Floating Storage and Supply Vessel to t he NOC for up to 5 years. Earlier this month, the Group secured a time charter worth up to US$300 million to supply two self - elevating platforms to support the NOC’s offshore oil production activities for up to 7 years.
About Vallianz Holdings Limited
Vallianz Holdings Limited is a fast growing provider of offshore support vessels and integrated offshore marine solutions to the oil and gas industry. Headquartered in Singapore, the Group provides offshore marine services to oil majors and national oil co mpanies worldwide. Today, Vallianz owns a young fleet of 39 offshore support vessels and covers markets in Asia Pacific, the Middle East and Latin America. To strengthen its foundation for growth, the Group is currently executing initiatives to expand its asset base and geographical reach , as well as broaden its range of vessel offerings.
