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    Miclyn Express Offshore investing in new vessels

    Vessel & ROV News // February 11, 2011

    Miclyn Express Offshore Ltd has confirmed that funds received from its recent vessel sales, including the sale of Miclyn Constructor II, are earmarked for deployment into expansion opportunities in other classes of offshore vessel and continued fleet renewal and expansion in the crew/utility vessel segment.

    In line with this, the company has acquired a 5,500 bhp AHTS against a five year contract with a key customer in Thailand. The vessel will be renamed MEOTHAI1 and will commence work in February. MEOTHAI1 will be 50 per cent owned through Miclyn's Thai joint venture.

    The company has also contracted to acquire four new crew/utility vessels from a Singaporean shipyard with deliveries scheduled for June 2011 (three units) and July 2011 (one unit).

    These vessels are targeted for deployment in the Middle East and South East Asia.


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