Scomi upgrades fleet

Scomi Marine is upgrading its fleet of offshore vessels through. The company will invest $188 million in new units and will dispose of 10 older boats.

Offshore staff

KUALA LUMPUR, Malaysia -- Scomi Marine is upgrading its fleet of offshore vessels through. The company will invest $188 million in new units and will dispose of 10 older boats.

Shah Hakim Zain, Scomi CEO, expects to generate 30% of the new investment from internal funds for six deepwater anchor-handling tugs and supply boats (AHTS) and three offshore support vessels (OSVs) in a move to secure high rental contracts from the deepwater markets in Malaysia, Australia, India, and Indonesia.

Scomi Marine will take delivery of four AHTS next year and one each in 2009 and 2010.

The OSVs will be delivered in stages through to 2010, he told reporters following the company's annual general meeting in Kuala Lumpur on June 21.

Over the past nine months, Scomi Marine has sold six OSVs for about $9 million.

Scomi Marine operates a fleet of 149 vessels.

6/22/2007

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