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    Ezra orders more anchor handlers

    Vessel & ROV News // November 1, 2005

    Ezra Holdings in Singapore has announced that its wholly owned subsidiary, Lewek Shipping Pte Ltd, has awarded US$26 million worth of newbuilding contracts for two vessels to Pan-United Marine Ltd. The contract value excludes the cost of certain owner-furnished equipment.

    This latest order comprises two 78m multi-purpose anchor-handling, towing and supply vessels each of 16,000bhp, which are due to be delivered in FY2007 and FY2008.

    The acquisition will be funded via a combination of internal funds and bank borrowings.

    “Ezra is now entering an exciting growth phase and has grown into a key player in the offshore market. We also look into various opportunities to extend the value chain and strengthen our foothold in various markets,” said the company in a statement.

    The Group operates one of the youngest fleets of vessels serving the buoyant offshore oil and gas industry in the region. Ezra manages 14 vessels including six AHTS, two AHT, two tugs, two crew boats, one barge, and a heavy lift accommodation work barge.

    By the first half of FY2008, the fleet under management and operation will grow to 30 offshore support vessels with a strong deepwater E&P support services capability.

    The vessels will join Ezra’s current orderbook of 14 new vessels to be delivered in FY2006 and FY2007, which comprises of eight other multi-purpose AHTS, five anchor handling tugs, and a sophisticated heavy lift/accommodation/pipelay vessel.

    “Firm demand in the oil and gas sector drives our newbuilding orders. We continually invest in a range of vessels for both deep and shallow water support work that broadens our abilities to meet customer demand," said Mr Lionel Lee, Ezra’s Managing Director.

     

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