Icon unit, Icon Fleet, through Brunei subsidiary Icon Bahtera (B) Sdn Bhd, has secured a long-term charter contract from Zell, with Brunei Shell Petroleum as the end customer for the provision of one accommodation work boat in Brunei for five years, with an option to extend another two years, it said in a stock market release.
Ceo Jamal Yusof said: “This jv is in line with our business strategy that enables Icon Offshore to expand its regional operations into a new market, thereby strengthening its position as one of the largest pure-play OSV providers in Southeast Asia in terms of number of vessels. Furthermore, the jv will allow for the acquisition or hiring of OSVs to service contracts and operations in Brunei. Icon Offshore will contribute its expertise in ship management and technical operations of OSVs whilst our partner will facilitate our market entry into Brunei.”
Jamal added that Icon had been looking for an opportunity to enter the Brunei market some time. Now that they have finally identified a reputable partner, the venture will provide Icon Offshore access to the Brunei market as well as strengthen its relationship with Brunei Shell. he said.
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