Tanjung invests in OSVs

Company News - January 17, 2008

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LR-Fairplay's Daily Newbuilding News reports that Tanjung Offshore has raised a RM$400 million (US$123 million) bond that will be used to purchase 12 offshore support vessels by 2010.

Lift barges, production platforms and oil rigs might also be acquired. Most of the vessels will come from Malaysian yards.

Managing director Omar Khalid said that two vessels have been contracted to Muhibbah Engineering and Boustead Shipping Corporation.

The report said the 'spending spree' is thanks to a buoyant energy market and global trade expansion.

 

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