Coastal Contracts bags charter deals for two OSVs

Malaysian marine services and vessel provider Coastal Contracts has been awarded charter contracts for two of its vessels. 

Coastal Contracts said in a Bursa Malaysia filing on Friday that its subsidiaries, Coastal Transport and Coastal International Marine, had won charter contracts for two units of offshore support vessels (OSVs).

The company added that the contracts consist of a short-term contract and a long-term contract with a firm period of up to three years. The long-term contract has an extension option of up to a maximum of two years.

The company has not provided any details regarding the value of the contracts nor the client.