Singapore-based Kim Heng Offshore & Marine has secured a one-year charter contract for two of its anchor handling tug supply vessels.
Kim Heng said on Wednesday that the contracts for the two AHTS vessels would begin in April 2018.
The two vessels, the Bridgewater 131 and Bridgewater 132, were awarded a deal by an undisclosed “leading oil major” in Malaysia.
Thomas Tan , executive chairman and CEO, said: “Our management has a forward-looking perspective to establish a strong position in the oil and gas sector to readily seize new market opportunities for better growth prospects.
“As the oil prices recently rallied to $70 per barrel, we believe we are well positioned for the eventual upturn in the oil industry to secure more contracts in the region.”
The company added that the charter was expected to contribute to its financial performance for the financial year ending December 31, 2018.