EOC updates on vessel acquisition, company transformation

EOC Ltd. has added a new accommodation and support vessel to its fleet, and has also agreed with its largest shareholder, Ezra Holdings Ltd., to consolidate EMAS Marine, the offshore support services division of Ezra.

Jul 10th, 2014

Offshore staff

SINGAPOREEOC Ltd. has added a new accommodation and support vessel to its fleet, and has also agreed with its largest shareholder, Ezra Holdings Ltd., to consolidate EMAS Marine, the offshore support services division of Ezra.

EOC has entered into a memorandum of agreement to acquire a newbuild accommodation and support vessel for a purchase price of $32.5 million. The vessel is designed to meet the classification requirements of the American Bureau of Shipping and, with modifications, can accommodate up to 70 crew members. The vessel was built in Fujian Mawei Shipbuilding Ltd., Fujian, China.

Upon consolidation, the enlarged EOC Group will leverage EMAS Marine’s execution capabilities and track record in asset management and strengthen its position as an offshore solution provider, offering a suite of offshore support services, including offshore support vessels (OSVs), accommodation, construction, and resource management.

The enlarged EOC Group will be one of the largest offshore support operators inAsia Pacific by asset value, managing over $1 billion in offshore support assets and fleet of 50 offshore vessels.

07/10/2014

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