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Perdana buys in three vessels for $50m

Perdana buys in three vessels for $50m
Perdana Petroleum has decided to purchase the two AHTS vessels, Perdana Frontier and Perdana Horizon, and the work boat Perdana Liberty for approximately $50m.

In line with this, Perdana said its unit Perdana Mercury would be terminating the bareboat charter and option agreement for the vessels with Mount Bintang LLC and Mount Bubu LLc.

Perdana decided to buy over the vessels and it will enable it to convert them to Malaysian-flagged vessels, no doubt with an eye on the lucrative local offshore support vessels market.

The purchase the vessels would be funded by internally generated funds and bank borrowings, the company said in a stock market announcement.