Ezra forays into Australian watersNews // August 16, 2006
Ezra Holdings Limited in Singapore is tapping into the fast-growing offshore oil and gas support services sector in Australia
with a 500-day term charter contract worth potentially up to US$37 million (or S$58.4m) excluding extension options.
The contract commences in November. Under the contract, Ezra will supply two anchor handling, towing and supply vessels and a fast crew utility vessel which will be built for S$4.9 million, excluding the cost of certain owner-furnished equipment.
This crewboat, which can transport up to 80 persons, is expected to be delivered in November.
"We are capitalising on our strengths and diversity in deepwater capability for the Australian market, where the focus on deepwater exploration is widening. We expect the market here to take off, and already, rates here are reflective of the increased level of activity. We’re positioning Ezra to participate strongly in this uptake in Australia,” said Mr Lionel Lee, Ezra’s Managing Director.
“Our construction infrastructure division, which includes heavy lift accommodation crane barges, and pipelay vessel, strengthens our reach in this new market amid the rising level of exploration and oil and gas discoveries in the waters off Australia,”
added Mr Lee.
By 2007, EZRA will have 33 vessels under management, including those under sale and leaseback agreements.