Vallianz Builds Up Its Fleet as It Sets Sights on New Markets

Vallianz Holdings Limited, an integrated offshore marine solutions provider in the offshore oil and gas industry, will be boosting its fleet capabilities with the addition of platform supply vessels of Ulstein P128 and PX128 designs.

The new PSVs are the first of its kind in the world and chart the start of the modernisation and diversification for Vallianz’s current fleet of 28 vessels.

Two Ulstein P128 vessels have been acquired and will be delivered within the next 6 to 12 months as part of the planned expansion programme of 24 vessels as announced by Vallianz in April 2014.

Separately, an addition of ten PX128 vessels will be added to the Vallianz fleet subsequently. These additional 10 PX128 vessels will be jointly developed with Ulstein Asia Pte Ltd with strong involvement from Vallianz.

Commented Mr. Darren Yeo, Chief Executive Officer of Vallianz: “ The Ulstein P128 vessels combine low fuel consumption with high carrying capacity. The vessels are diesel-powered, equipped with dynamic positioning and include automation systems for machinery and cargo handling that will contribute to safe and efficient vessel operations.”

Mr. Gunnar Haug, Managing Director of Ulstein Asia Pte Ltd said: “Embarking on a new small-to-medium PSV market, Ulstein’s design criteria has been to develop a PSV that could support barges and rigs in a more economical way than the traditional offshore support vessel, both in terms of building cost and operational costs. The result is a Diesel-Electric PSV that will outperform many traditional PSV’s in terms of low fuel oil consumption and high cargo capacity.”

Mr. Yeo concluded, “Vallianz is currently bidding for up to US$1.2 billion in projects across Asia, Middle East and Latin America. With the addition of these Ulstein PSVs, Vallianz will be in a position to potentially capitalise on new opportunities in new regions such as Europe, Gulf of Mexico and Africa. We are setting our sights on new markets and in this regard, are continuing to deepen management bandwidth and vessel capabilities.”

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Press Release, May 23, 2014