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Icon Offshore buys work boat and sells utility vessel

Icon Offshore buys work boat and sells utility vessel
Malaysia’s Icon Offshore has bought one new accommodation work boat (AWB) and entered into an agreement to sell one 2005-built utility vessel.

The 3,500 dwt, DP2-capable AWB was purchased from fellow Malaysian firm Nam Cheong at a price of $30m.

“The vessel is our first AWB for our fleet,” Icon Offshore said. “The acquisition is in line with our fleet expansion programme where we expect to selectively diversify our fleet composition (…), as well as to move up the OSV value chain by adding vessels to our fleet that are equipped with DP2 to be able to operate and provide marine support services in harsher weather conditions and deeper waters.”

At the same time, Kuala Lumpur-listed Icon Offshore will dispose of Tanjung Manis, a 3,484-bhp utility vessel for a cash consideration of $3.88m to Saudi Arabia’s Hadi Hamad Al-Hammam Est., Marine Services.

“The proposed disposal is in line with our fleet renewal programme where we expect to replace some of our lower specification vessels with vessels that have greater engine capacity and which are equipped with DP capabilities to ensure that our fleet is up-to-date (…),” Icon Offshore announced.