The latest acquisition, the second this year, brings Logindo's fleet to 61, said Logindo president director Eddy Logam, after another AHTS acquired in February for $17m. The 8,000bhp anchor handler will be chartered on to Total E&P to support its work offshore the Mentawai Island in West Sumatra.
The purchase was funded by a combination of bank loans and internal funds, with about 70% coming from a five-year loan from DBS Singapore.Logindo has an $80m budget to acquire four or five new vessels this year. The expanded fleet will help the company meet its aim of securing $200 million in new contracts.
Logindo cfo Sundap Carulli, noted that margins had widened by three percentage points from previously and was optimistic that this rising trend as well as a bigger would result in better financial performance.
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