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Alam Maritim, Vallianz form Labuan OSV jv

Alam Maritim, Vallianz form Labuan OSV jv
Malaysian offshore support vessel (OSV) provider Alam Maritim has formed a small Labuan joint venture with Singapore's Vallianz Holdings.

Through their respective units, Alam Maritim Investment Holdings (L) Inc and Vallianz International Pte Ltd the joint venture company known as Deepsea Leader Venture (L) Inc will own OSVs operating in Malaysia’s upstream market.

Deepsea is expected to contribute positively to the earnings and net tangible assets of the Group for the year ending 31 December 2015 and beyond. Alam Maritim said.