TAS Offshore's net profit for the quarter ended 31 August 2013 came up to MYR8.53m ($2.7m), a jump of 215.4% over MYR2.71m recorded in the same period of last year.
Revenue during the period was registered at MYR29.64m, an increase of 66.8% compared to MYR17.77m a year ago.
“The demand for offshore support vessels have improved as the oil majors have increased their activities. This has benefited our group so far as evidenced by the shipbuilding orders that we secured,” Kuala Lumpur-listed TAS Offshore said.
Earlier this month, the shipbuilder clinched an order to sell an anchor handling tug supply (AHTS) vessel for MYR38m.
In April, the shipbuilder won contracts to sell two AHTS vessels and two offshore construction vessels (OCVs) for a total of MYR160m.
TAS Offshore added that its involvement in build-to-stock model has placed the group in a favourable situation to meet demand of vessel owners who require shorter delivery period for their offshore vessels.
“We are optimistic in our outlook that new demand for offshore support vessels with higher technical specifications suitable for deepsea operations will grow,” it commented.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
