The Hong Kong-listed conglomerate currently owns a fleet of about 80 specialist vessels to support international energy exploration projects through Swire Pacific Offshore Operations.
Christopher Pratt, chairman of Swire Pacific, said the HK$11bn investment in new vessels could act as a hedge against the soaring operation costs of its airline business Cathay Pacific Airways.
“Probably the biggest challenge this year as we speak would have to be Cathay Pacific Airways because, pure and simple, the price of fuel is historically extremely high and... it's very difficult,” Pratt was quoted saying.
“Unlike Cathay Pacific, Swire Pacific Offshore likes a high fuel price. If oil is more expensive, people spend more money looking for it and use more of our boats,” he said.
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