Jasa Merin Places Order for Three AHTS Vessels (Malaysia)

Malaysia’s SILK Holdings Bhd has announced that its subsidiary, Jasa Merin Sdn Bhd, on 21 March 2013, awarded three shipbuilding contracts to Muhibbah Marine Engineering Sdn Bhd  .

The contracts are for the construction of two 62-metre Anchor Handling Tug Supply (“AHTS”) vessels and one 70-metre AHTS.

The total value of the order is estimated at approximately RM 216.49 million (USD 69.4 million).  The vessels are expected to be delivered in stages from the end of 2013 until early 2014.

“The agreement for the new vessels is in line with the Group’s on-going fleet-renewal and expansion initiative,” said SILK in a press release.

As for the financing part, the company said that the acquisition of the vessels would be be funded through a combination of internal funds and borrowings.

Upon delivery of the AHTS ships, Jasa Merin will own and operate a fleet of 21 offshore support vessels, Free Malaysia Today has reported.