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    Coastal Group secures vessel sales

    Vessel & ROV News // August 26, 2013

    Coastal Contracts Bhd has announced that its wholly-owned subsidiary, Thaumas Marine Ltd, has secured contracts for the sale of an anchor handling tug supply (AHTS) vessels and a subsea support/maintenance vessel for an aggregate value of approximately RM170 million.

    These vessels are scheduled for delivery by to 2014. The revenue stream from the vessels is expected to contribute positively to the top and bottom line performance of the Group for the financial years ending 31 December 2013 and 31 December 2014.

    As of to date, Coastal Group has approximately RM1.2 billion worth of vessel sales orders awaiting delivery to customers up to 2014.

     

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