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    Swissco orders another AHTS

    Vessel & ROV News // October 2, 2006

    Swissco International Ltd in Singapore has announced that its wholly-owned subsidiary, Swissco Offshore Pte Ltd, has placed an order for a new 40m anchor handling supply vessel.

    Swissco has awarded the contract to a Chinese Shipyard in Guangzhou, China.

    This is the 12th contract awarded to the yard and is the fourth vessel of a similar design.

    The vessel is scheduled for delivery in the second half of FY07.

    Said CEO Alex Yeo: “The oil and gas industry remains robust, and the fleet expansion is part of our plan to scale up the value chain to meet the demands of our customers in the buoyant oil and gas industry. These new vessels are able to command better charter rates and we expect better returns when they join the fleet.”

    With this order, Swissco expects to take delivery of five vessels for the rest of FY06, six in FY07 and one in FY08.

    The S$4.5m purchase will be funded through a combination of internal funds and bank borrowings.

     

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