Vallianz awarded US$150 million chartering contracts in the Middle East
Vallianz Holdings Limited, an integrated offshore marine solutions provider in the offshore oil and gas industry, through its subsidiary, has been awarded US$150 million worth of chartering contracts by a leading company in the Middle East, the company said in its press release.
Platform Supply Vessels (“PSVs”) will be chartered out from the first quarter of 201 4 for 5 years, including option of extension. One of Vallianz’s Platform Supply Vessels Page 2 of 3 Commented Mr. Darren Yeo, Executive Director and Ch ief Executive Officer of Vallianz: “We are delighted that we have won charter contract s from a leading company in the Middle East. These contracts boost the current outs tanding orderbook by 45% to US$485 million, it also underscores Vallianz’s risi ng vantage position in this niche segment of the offshore services industry.”
“To support the growing need for offshore marine as sets, which is rising on the back of the booming offshore oil and gas industry, companie s engage in alternative finance structures such as vessel chartering, which offers flexibility and cost-efficiencies. Vessel chartering for PSVs in particular, are in high dema nd by exploration and production companies. In comparison to other vessels, it is mo re economical to use PSVs due to its fuel-efficiencies and capabilities in deeper waters. “All these augur well for Vallianz’s young and best -in-class vessel fleet of 26 offshore marine vessels. In view of the rising demand for of fshore marine vessels, we also intend to boost our vessel fleet to 50 vessels by 2016. Steering forward for future growth, Vallianz will unwaveringly continue in our strategy to pursue mid to long-term charters in the Middle East and the Asia Pacific,” concluded Mr . Darren Yeo.
About Vallianz Holdings Limited
Vallianz Holdings Limited (“Vallianz” or “the Compa ny”) is an integrated offshore marine solutions services provider in the oil and gas indu stry that is listed on SGX-Catalist in Singapore. The Company provides offshore marine ser vices to oil majors and national oil companies worldwide. Headquartered in Singapore , Vallianz has established its geographical footprint in Asia Pacific and the Midd le East. Vallianz is spearheaded by an experienced Board and management team. Vallianz will continuously develop and sharpen its technical expertise to build upon the G roup’s robust business model.
