Swissco signs $10 million in charters

Swissco Offshore Pte Ltd. has secured chartering contracts with sale options worth S$14.43 million ($10.45 million) for two of the group's offshore support vessels.

Offshore staff

SINGAPORE -- Swissco Offshore Pte Ltd. has secured chartering contracts with sale options worth S$14.43 million ($10.45 million) for two of the group's offshore support vessels.

Swissco signed the first charter contract with an existing established Australian client for a 40-m (131-ft) anchor handling tug. After making some minor modifications in Singapore, the vessel is expected to be deployed in the oil and gas market of Western Australia. The contract is for a minimum charter of one year, and comes with an option to purchase.

The second contract is for three years with an Indian company for shallow water oilfield work in the Indian subcontinent. The 26-m (85-ft) shallow draft utility workboat will be deployed on the east coast of India to assist in drilling. The charter contract also includes an option to purchase.

Swissco is expected to take delivery of 12 new vessels in 2008 and another five new vessels in 2009.

04/07/2008

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