Kotug adds new vessel to Australian support fleet
Towage operator Kotug has recently acquired a fifth addition to its range of infield support vessels (ISVs) in Australia and East Timor.
Kotug said on Tuesday that the acquisition was a part of the group’s ongoing investments in offshore support.
This latest addition to the fleet, the Coral Knight, will be bareboat chartered exclusively to Australian Maritime Systems Limited (AMS) to provide emergency towage services and maintain aids to the navigation network at the Great Barrier Reef for the AMSA (Australian Maritime Safety Authority).
Kotug further explained that it acquired the Coral Knight to further expand its offshore support services in the Australian region.
The vessel will continue to be operated out of Cairns, Australia, to provide level one and two emergency response, emergency towage as well as first strike emergency response. The Coral Knight will provide a platform to support the maintenance of aids to navigation in these areas.
As previously reported by Offshore Energy Today, Singapore’s debt-laden offshore vessel owner Swissco said it had sold the Coral Knight for $7.2 million in cash to reduce its liabilities, as the proceeds were sufficient to pay down all of the amounts owed to Oversea-Chinese Banking Corporation (OCBC).
Kotug’s offshore services in the Australian region further include a contract to provide all towage operations for Shell’s Prelude FLNG, as well as towage assistance at ConocoPhillips’ Bayu Undan FSO, for which it employs three ISVs with a fourth vessel currently being built.
All vessels are owned by the Kotug group and operated by KT Maritime Australia, a joint venture between Kotug International and TK Australia.