Swissco secures OSV charter contracts worth $17.3m

The OSVs comprise of two new workboats and one AHTS vessel, all of which will be deployed in the Middle East under the contracts.

“The Middle East continues to be a key source of oil for the global economy. Increasing investments into oil exploration and production in the region will have a knock-on effect on the demand for rigs and offshore support vessels services,” said Sam Kwai Hoong, group cfo of Swissco.

Earlier this month, Singapore-listed Swissco completed an acquisition for four mobile offshore drilling rigs, bringing its rig fleet to eight as it entered into the rig business.