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Icon Offshore picks up $5m three-year tug deal

Icon Offshore picks up $5m three-year tug deal
Malaysian offshore services provider Icon Offshore has won a MYR22m ($5.1m) job from an oil major for the provision of one utility tug vessel, the company said in a stock market announcement.

Icon said the three-year contract commenced from 21 October 2015 with an extension option of one year and an additional one year.

The contract is expected to contribute positively to the earnings and net assets of Icon group for the financial year ending 31 December 2015 and beyond.