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TAS Offshore secures $8m two-tug deal

TAS Offshore has won contracts for the sale of two harbour tugs worth about MYR31.6m ($7.9m), the company said in a stock market announcement.

Vincent Wee, Hong Kong and South East Asia Correspondent

August 10, 2016

1 Min Read
Kalyakan - stock.adobe.com

The vessels are being sold to an existing customer and are expected to be delivered in the last quarter of 2017.  

TAS Offshore added that the revenue generated from the contract is expected to contribute positively to the earnings and net assets of the group for the financial years ending 31 May 2017 and 2018.

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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