Shipping group Vallianz has set a new record of $1.2billion for its order book following contract wins worth up to $210million.
The Singapore-based firm, which provides offshore support vessels and integrated marine solutions to the oil and gas industry, said it secured new long term charter contracts for the supply of 13 offshore support vessels to a national oil company in the Middle East.
The OSVs will be chartered to the NOC for up to seven years and will be deployed at oil fields from the second half of 2016 in accordance the client’s project schedule.
These latest contract wins boost Vallianz’s chartering services order book to $1.2 billion, comprising mainly long-term charters up to 2025.
Chief executive Ling Yong Wah said: “This new award speaks volumes of the group’s operational capabilities as the award of an entire tender comprising a large number of vessels to a single offshore marine service provider is rare…” and normally reserved for a contractor that has an exceptional and proven track record. Our ability to secure contracts for 13
The latest contracts follow on from a $63million contract from the same client for the charter of two anchor handling vessels for up to 7 years.
Added Mr Ling, “With the addition of these new charter contracts in the Middle East, we have further strengthened our order book and improved the group’s future revenue visibility.
Vallianz said the Middle East offshore oil and gas market remained active and it is currently bidding for charter $1.5 billion.