Trico targets Southeast Asia News
// June 29, 2001
Trico Marine Services has announced that it has entered into a joint venture agreement with Chuan Hup Holdings Limited (Chuan Hup) of Singapore whereby the two companies expect to jointly acquire, construct and operate platform supply and anchor handlingvessels in Southeast Asia and other international markets.
Chuan Hup currently owns and operates a fleet of 145 vessels, including a number of bulk materials and anchor handling supply vessels, which support the regional offshore oil and gas as well as resource and mining industries.
The new joint venture company, CHH-Trico, which will be 51 per cent owned by Chuan Hup and 49 per cent owned by Trico, will be based in Singapore. Through the joint venture, Trico will have access to Chuan Hup's client base, which is concentrated aroundthe ASEAN/Southeast Asian region.
Chuan Hup will have access to Trico's existing international operations located in the West Coast of Africa, in the Caribbean, Central and South America, and the North Sea. Through CHH-Trico, Chuan Hup and Trico will also co-ordinate the marketing of each other's fleets in each of their respective market areas.
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