The contracts were for five anchor handling tug supply (AHTS) vessels, one 300-men accommodation work barge and one 85m subsea support/maintenance vessel. The new ships are for deliveries this year and next year and are expected to contribute positively to Coastal's top and bottom line performance for the financial years ending 31 December 2013 and 31 December 2014, the group said in a stock market release.
Coastal is expanding its market as well, with five of the vessels sold to new customers from Southeast Asia and Africa, while two of the vessel orders were from regular customers.
The group added it currently has approximately MYR1bn worth of vessel sales orders awaiting delivery to customers up to 2014.
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