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Ezra grabs $110m subsea and vessel chartering deals

Offshore services provider Ezra Holdings has grabbed $110m worth of project deals in subsea construction and offshore support services in the Gulf of Mexico and Asia Pacific.

Ezra's subsea services arm EMAS AMC was awarded a SURF type offshore installation project from a national oil firm operating in the Gulf of Mexico. Another project came from an oil major operating in Asia for pipeline repair works. Both projects are scheduled to commence before the end of 2013.

Ezra's offshore support services arm EMAS Marine clinched three new charters with a national oil company and an oil major in Southeast Asia for two anchor handling tug supply (AHTS) vessels and a platform supply vessel (PSV). The contracts have an average tenure of around 3.5 years, including options.

“While the offshore support market remains challenging, we have been able to ride on our track record and close relationships with operators to continue winning quality long term charters for our vessels,” said Lionel Lee, ceo and managing director of Ezra.

Singapore-listed Ezra recently booked a full year net profit of $53.65m and a revenue of $1.26bn, and has approximately $8bn worth of projects being tendered. Its orderbook stood in excess of $2bn.

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