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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.

Vincent Wee, Hong Kong and South East Asia Correspondent

November 25, 2013

1 Min Read
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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.

About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

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