Search results for: pacific-radiance

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  • 22 May 2017
    Business & Finance

    Singapore’s vessel operator Pacific Radiance has entered into a joint venture agreement with Allianz Offshore Middle East, forming a new company which will be involved in offshore vessel operations.  The agreement between Pacific Radiance’s subsidiary, Crest Offshore Marine, and Allianz, a company incorporated in Saint Vincent and The Grenadines, was entered into on Friday, May 19. The pair will  jointly […]

  • 22 January 2018
    Business & Finance

    Singapore-based offshore vessel operator Pacific Radiance is looking to diversify into offshore wind, according to its latest presentation related to restructuring plans the company has been negotiating with its stakeholders since September 2017. 

  • 18 March 2014
    Business & Finance

    Pacific Radiance Group has exercised options for two additional ULSTEIN’s PSV designs. In September 2013, Pacific Radiance Group announced the order for two platform supply vessels of the ULSTEIN PX121 design for construction at Shanghai Waigaoqiao Shipbuilding and Offshore Co., Ltd. (SWS Offshore). The contract included options for two more vessels, and the options are now […]

  • 14 August 2017
    Business & Finance, Operations & Maintenance

    Pacific Radiance, a provider of integrated offshore marine support services, has reported loss of $8.5 million for the three-month period ended June 30, 2017. This result compares with quarterly loss of some $62.8 million in the corresponding period in 2016. Result for the first half of 2017 was negative $23.7 million over $69.7 million in […]

  • 22 May 2017
    Business & Finance, Operations & Maintenance

    Pacific Radiance has through its wholly-owned subsidiary, Crest Offshore Marine, entered into a joint venture agreement with Allianz Offshore Middle East to jointly incorporate a company in Singapore known as Allianz Radiance. Under the terms of the JV Agreement, Crest Offshore and Allianz Offshore respectively will hold 51% and 49% equity interest in the new […]

  • 8 September 2017
    Business & Finance

    Singapore-based offshore vessel operator Pacific Radiance has started debt restructuring talks with its bank lenders. Pacific Radiance and the bank lenders intend to work towards a consensual restructuring of the group’s borrowings, according to the vessel owner’s brief statement on Thursday. The company said in its second quarter 2017 results last month it was working […]

  • 1 April 2014
    Business & Finance

    Pacific Radiance Ltd., a Singapore-based provider of integrated offshore marine services in Asia and beyond, has bagged a contract worth up to US$100 million for its latest maintenance work vessel (MWV). The vessel is also the first of the 14 newbuilds scheduled for delivery in the current financial year FY2014. Under the terms of the […]

  • 18 November 2014
    Business & Finance

    Pacific Radiance Ltd., a Singapore-based provider of integrated offshore marine services in Asia and beyond, has secured a long term charter contract worth over US$140 million, including extension options, for one of its offshore support vessels ahead of its expected delivery in 2016/17. Pacific Radiance says that under the contract, which was secured by the […]

  • 9 September 2014
    Business & Finance

    Singapore’s Pacific Radiance Ltd. has announced that its indirect subsidiary, Radiance Offshore Holdings Pte. Ltd., has entered into a joint venture agreement with DOT Holdings AS, on 8 September 2014. Under the terms of the Joint Venture Agreement, Radiance Offshore and DOT Holdings have agreed to jointly incorporate a company, to be named “DOT Radiance […]

  • 10 January 2017
    Business & Finance

    Pacific Radiance, a provider of integrated offshore marine support services, has recently inked multi-year contracts worth up to $68 million, including options, in the Middle East.   The company said on Tuesday that, under the multi-year contracts with independent and national oil companies, five of the group’s offshore support vessels (OSVs) will support production campaigns in […]

  • 1 April 2014
    Business & Finance

    Affirming its already strong standing in Asia’s offshore oil & gas support services sector, Pacific Radiance Ltd. has bagged a contract worth up to $100 million for its latest maintenance work vessel (MWV). Under the terms of the contract, the MWV, which joined the Group’s diverse fleet in the first quarter of FY2014, will be […]

  • 14 June 2016

    Singapore’s offshore vessel supplier Pacific Radiance has rescinded two platform supply vessel construction contracts with two Chinese shipyards. The company is also seeking money back for the pre-delivery installments paid. Pacific Radiance on Monday said its subsidiary Pacific Crest, had on June 13, 2016, issued two notices of arbitration, for arbitrations in Hong Kong against […]

  • 4 March 2015
    Business & Finance

    Pacific Radiance’s subsidiary Alstonia Offshore has on March 3, 2015 entered into a Joint Venture Agreement with Duta Marine to jointly incorporate a company to be named “Duta Radiance Maritim Sdn Bhd” (JV Company) in Malaysia. Under the terms of the Joint Venture Agreement, Alstonia and Duta Marine respectively will hold 49% and 51% equity […]

  • 9 September 2014
    Business & Finance

    Oceanteam Shipping ASA announced that it has secured, through its joint venture DOT Holdings AS, an interest in a new build Offshore Support Vessel. As a result a partnership with Pacific Radiance Ltd., subject to certain conditions subsequent, has been established. Closure of remaining conditions subsequent, are expected to be finalised in the coming month.Once […]

  • 24 June 2014
    Business & Finance

    Pacific Radiance, a Singapore-based provider of integrated offshore marine services in Asia and beyond, and Mexico’s Consultoría y Servicios Petroleros, S.A. de C.V have agreed to establish a joint venture company. Singapore’s Pacific Radiance Ltd. has through its indirect subsidiary, Radiance Offshore Holdings Pte. Ltd. (“ROH”) has entered into a Joint Venture Agreement with Consultoría y Servicios Petroleros, […]

  • 10 January 2017
    Business & Finance, Operations & Maintenance, Project & Tenders

    Pacific Radiance has re-established its presence in the Middle East with its recently signed multi-year contracts worth up to US$68 million, including options. Under the multi-year contracts with independent and national oil companies, five of the Group’s offshore support vessels (OSVs) will support production campaigns in the Arabian Gulf. These vessels, which were previously off-hire, have […]

  • 11 September 2013
    Business & Finance

    Singapore based Pacific Radiance Group orders two platform supply vessels of the ULSTEIN PX121 design for construction at a Chinese yard. The vessels are estimated for deliveries in Q2 and Q3 2015. The contract includes options for two more vessels. The Pacific Radiance Group is currently managing over 120 vessels. “After researching a few designs […]

  • 3 April 2017
    Business & Finance

    Singapore’s offshore support solutions provider Pacific Radiance has appointed a new chief financial officer (CFO) of the company with effect from April 3, 2017. Pacific Radiance said on Friday that the board of directors and the Nominating Committee named Chia Iris as the new CFO following a review of her qualifications and work experience. In […]

  • 7 June 2018

    Singapore’s Pacific Radiance has said it has signed a non-binding term sheet with potential anchor investors for the equity injection of up to US$85 million.

  • 15 June 2017
    Business & Finance, Operations & Maintenance, Project & Tenders

    Pacific Radiance has secured USD 45.3 million worth of new contracts, including options. Under these contracts, ten of the Group’s offshore support vessels, including a diving support vessel, are being deployed to support projects in Asia and the Middle East. The vessels are chartered to new and existing clients to provide services which include towing, […]

  • 19 December 2013
    Business & Finance

    Pacific Radiance Ltd., a Singapore-based provider of integrated offshore marine services in Asia and beyond, will be pressing forward with its growth strategy, moving ahead with plans to expand and upgrade its offshore fleet by adding two high-specification platform supply vessels (PSVs) to its newbuild programme. In September 2013, the Group placed an order with […]

  • 11 September 2013

    Singapore based Pacific Radiance Group orders two platform supply vessels of the ULSTEIN PX121 design for construction at a Chinese yard. The vessels are estimated for deliveries in Q2 and Q3 2015. The contract includes options for two more vessels. The Pacific Radiance Group is currently managing over 120 vessels. “After researching a few designs […]