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    Hallin Marine secures subsea operations vessel

    Vessel & ROV News // February 6, 2006

    Hallin Marine, the AIM-quoted provider of subsea solutions to the oil and gas industry based in Singapore, has signed an agreement with Sanko Line of Japan (www.sankoline.co.jp) to charter the newly built Sanko Angel, a DP2 subsea operations vessel. The charter duration is for a three year period.  

    Hallin Marine will take delivery of the new vessel in Singapore in the fourth quarter of 2006 and immediately plan to fit both saturation diving and ROV systems onboard.

    Sanko Angel will strengthen Hallin's capabilities and provide a platform from which to carry out offshore construction, inspection, repairs and maintenance of new and existing oil and gas fields.

    Hallin has announced the charter at a time of a shortage in the market of suitable specialist vessels due to growing global demand for subsea intervention equipment oil and gas industry.

    The DP 2 vessel has been specifically designed to meet the requirements of the offshore oil and gas support industry. The 76m vessel, with more than 700 square metres of workable deck space, a 50T SWL crane and accommodation for up to 132 personnel, provides an ideal platform to support Hallin Marine's subsea diving and ROV operations.

    Sanko Angel will eventually replace the ageing Fu Lai that Hallin has had on long term charter for the last two years. The new vessel is significantly more fuel efficient and offers an operational edge compared to older vessels for projects the company is currently bidding or planning to bid for.

    John Giddens, Chief Executive of Hallin Marine, said: ""We are pleased to have secured the charter of Sanko Angel, a highly capable asset which will complement Hallin's existing portfolio of vessels and subsea equipment. Sanko Angel will support new projects in Asia, Europe and the US in 2006/2007."

     

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