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HomeMaritime NewsRegionsAsiaPacific Radiance sets up joint venture with Duta Marine

Pacific Radiance sets up joint venture with Duta Marine

Pacific Radiance sets up joint venture with Duta Marine
Singapore’s Pacific Radiance, through its subsidiary Alstonia Offshore, has entered into a joint venture deal with Malaysia’s Duta Marine.

The new joint venture Duta Radiance Maritim will be engaged in shipowning, operating, management and chartering of vessels.

Under the terms of the joint venture agreement, Alstonia Offshore and Duta Marine will respectively own 49% and 51% equity interest in the new company.

“The investment in the joint venture company will be funded through internal resources,” Singapore-listed Pacific Radiance announced.

TAGS: Offshore
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