The contracts are with an undisclosed national oil company in the Middle East for two maintenance and accommodation OSVs for five years, with an for another two years. The vessels are scheduled to start the charters in the first half of the financial year ended 31 March 2018.
The company has also made forays into two new markets with a three-year charter for an OSV to Egyptian company, which has already started operations in the Red Sea, another three year charter for an OSV with a company in Turkmenistan starting at the end of May.
“Vallianz is one of the largest OSV providers in the Middle East and has now expanded our footprint to include Egypt. We are pleased that the Group has started to make headway in our strategy to increase penetration in other target markets in the Middle East region,” commented Ling Yong Wah, ceo of Vallianz.
“Besides the Middle East region, our first contract win in Turkmenistan will also enable the Group to access a new market in Central Asia.”
The contracts bring Vallianz’s outstanding orderbook to $1.03bn.
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