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Pacific Radiance sends OSV on USD 70m charter in South East Asia

04th November 2014

Pacific Radiance has deployed its newly delivered offshore support vessel on a charter in South East Asia

Pacific Radiance sends OSV on USD 70m charter in South East Asia
The name of the client or vessel has not been disclosed

The vessel is on a five-year contract worth more than USD 70m, including extension options, with a repeat client.

“The quick deployment of this vessel despite the current oil price weakness attests to our robust business model of building and operating a relevant and diverse fleet that meets a wide range of market needs,” said Pang Yoke Min, executive chairman of Pacific Radiance.

“We believe our fleet profile provides a relatively more sustainable and stable income stream within the cyclical oil and gas sector.

“We are still in a growth phase and will continue to focus on increasing our presence in emerging markets with high exploration and production spending.”

The name of the client or vessel has not been disclosed.

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