Vallianz wins a time charter contract of US$98 million to supply four offshore support vessels
Vallianz Holdings Limited, an established provider of offshore support vessels and integrated marine solutions to the oil and gas industry, has won a time charter contract valued at up to US$98 million to supply four offshore support vessels, the company said in its press release. The contract was awarded to Vallianz by an existing state - owned customer in the Middle East, which is one of the world’s largest national oil companies.
The four OSVs are Anchor Handling Tug Supply vessels equipped with Dynamic Positioning 2 (“DP2”) capabilities and will commence operations at the NOC’s oil fields in the first quarter of 2016 for a period of up to five years. This latest contract win boosts the Group’s chartering services order book to over US $ 1 billion , which comprises mainly long term time charters that stretch up to 2022.
With the deployment of these four AHTS vessels , Vallianz will have a to tal of 28 OSVs supporting the offshore oil and gas activities of the NOC in 2016. This includes earlier contracts awarded by the NOC for two self - elevating platform vessels as well as a specialised offshore floating storage and supply vessel that is scheduled to commence operations in early 2016.
Vallianz is presently bidding for charter contracts with a combined value of US$ 1.8 billion mainly for projects located in the Middle East. The Group expects the new time charter contract to begin contributing to its financial performance from the next financial year ending 31 December 2016.
About Vallianz Holdings Limited
Vallianz Holdings Limited is an established 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 companies worldwide. Today, Vallianz owns a young fleet of 40 offshore support vessels and covers markets in the Middle East , Asia Pacific and Latin America. To strengthen its foundation for growth, the Group is currently executing initiatives to expand its geographical reach, as well as broaden its range of marine assets and solutions.