Pacific Radiance Bags Charter Contract in Mexico
Pacific Radiance has secured a long term charter contract in Mexico, worth USD 73 million including options.
Under the multi-year contract, the company’s maintenance work boat (MWB) will be deployed to perform platform maintenance, diving and subsea maintenance, as well as offshore construction work.
Pang Yoke Min, the executive chairman of Pacific Radiance, said: “Mexico remains a promising target market where the government authorities have recently called for tenders for both shallow and deepwater development projects.
“The quick deployment of our newly delivered vessel in this industry downturn underscores our successful business model of constructing “build to spec” and fit for purpose vessels to cater to our clients’ needs, ensuring our fleet continues to stay market relevant and ready to meet a wide range of market needs globally, including the demand for younger and more efficient vessels.”