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    Swissco confirms order for multi-purpose AHTS

    Vessel & ROV News // August 9, 2006

    Swissco International Ltd in Singapore has announced that its wholly-owned subsidiary Swissco Offshore Pte Ltd has ordered a 55m multi-purpose offshore support vessel from a Chinese shipyard in Guangzhou, China.

    The 55m vessel, to be delivered in the first half of 2008, will be the group’s first vessel to incorporate an anchor handling capability and bulk cargo handling capability.

    Better known in the market as a pure AHTS operator, the company said the new order is in line with the group’s commitment to grow its offshore support vessel fleet.

    “With the ability to handle drilling mud and cement along with other logistical and support needs, this new vessel’s versatility makes it a real multi-purpose vessel. It will enable Swissco to further offer and develop the range of vessels and services
    expected of our customers,” said CEO Alex Yeo. “We are still confident of strong demand and ever-growing requirement for oil and gas in the next few years as it augurs well for offshore support vessel charterers whose businesses and services are
    closely linked to the activity levels of oil and gas exploration and production.”

    The Swissco Group expects to take delivery of seven vessels in the rest of FY06, three vessels in FY07 and one in FY08.
    The purchase of this new vessel will be funded through a combination of internal funds and bank borrowings.

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