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Coastal Contracts in $54m five-vessel deal

Coastal Contracts in $54m five-vessel deal
Malaysian offshore supply vessel (OSV) company Coastal Contracts has secured the sale of five of its vessels for MYR178m ($54.4m).

The company said in an announcement that its Coastal units Offshore (Labuan) Pte Ltd, Thaumas Marine Ltd and Pleasant Engineering Sdn Bhd, had collectively secured contracts for the sale of three offshore support vessels and two low-end vessels.

This has brought the total value of the group’s vessel sales order book to approximately MYR1.2bn, it said.