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    PCL moves into southeast Asian supply boat market

    News // September 12, 2003
    Pacific Carriers Ltd (PCL) is moving into the Southeast Asian offshore support vessel market via a joint venture with fellow Singaporean company SembCorp Marine.

    The 50:50 joint venture, to be named Pacific Workboats Pte Ltd (PWPL), will be between PCL and SembCorp Marine subsidiary Dolphin Shipping Company.

    PWPL, which will have an initial paid up capital of SGD500,000 ($283,977), aims to compete in the regional market for anchor handling tug supply (AHTS) vessels, ocean going tugs, barges and workboats.

    PCL, which this year celebrates the thirtieth anniversary of its formation, has a fleet of 64 vessels including a series of bulker newbuildings at IHI Marine and product carriers at Samsung Heavy Industries.

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