Swissco to add two vessels to fleet

Swissco International Ltd. subsidiary Swissco Offshore Pte. Ltd. is adding two offshore support vessels to its vessel fleet.


Offshore staff

SINGAPORE -- Swissco International Ltd. subsidiary Swissco Offshore Pte. Ltd. is adding two offshore support vessels to its vessel fleet.

The first newbuild is a 45-m (148-ft) vessel. The order was placed with a Chinese shipyard in Guangzhou and is scheduled for delivery in the second half of 2008. This order is the fifth of its kind to be placed with the same shipyard, Swissco says.

The second vessel is a 30-m (98-ft) aluminum fast craft, the third to be placed with a Western Australia yard. The vessel's ability to transport cargo and crew enhances the group's position as a one-stop provider of offshore support vessels, the company says.

"We are excited that our target of offering customers a more comprehensive range of vessels is beginning to materialize," says Alex Yeo CEO. "These new additions will further broaden our fleet capability. We see ourselves as a niche market vessel provider, and aim to offer a more comprehensive range of vessels in this niche market as we add more vessels to the fleet."

Swissco operates a fleet of 24 vessels. The company expects to take delivery of six vessels by the close of 2007 and another eight by the end of 2008. The company plans to achieve a fleet size of 30 to 35 vessels by the end of fiscal year, Swissco says.

8/14/2007

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