Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

1ad9fe2c9be13ccd671c6481f216990e

Pacific Radiance in jv with Allianz Offshore Middle East

Singapore-based OSV owner Pacific Radiance has formed a joint venture with Allianz Offshore Middle East (AOME).

Pacific Radiance will hold a 51% stake in the joint venture, Allianz Radiance Pte Ltd (ARPL), and AOME 49%, which will target business in the Middle East.

“ARPL shall be principally engaged in owning, managing, chartering and leasing offshore support vessels particularly in the Gulf Cooperation Council and Egypt offshore oil and gas segment,” Pacific Radiance.

Given the highly depressed state of Southeast Asian offshore marine markets Singapore OSVs owners have been targeting the Middle East market which remains relatively buoyant in terms of utilisation levels if not day rates.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish

SMN_Podcast_Leaderboard.jpg