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Coastal inks order for 12 offshore vessels (Coastal podpisał zamówienie na 12 statków offshore)

Seatrade Asia, 2012-07-11
Kuala Lumpur: Malaysia-based Coastal Contracts won a MYR466m ($146.4m) deal to construct 10 offshore support vessels (OSVs) and two low-end vessels.

The deals were inked by Coastal's wholly-owned subsidiaries Coastal Offshore (Labuan), Thaumas Marine and Pleasant Engineering.

Among the 10 OSVs to be built, six are anchor handling tug supply (AHTS) and the remaining are utility support vessels and maintenance/support vessels.

All the vessels are expected to be delivered in 2012 and 2013.

"These latest contracts will be the largest vessel sales orders for Coastal Group since February 2011, and this will significantly strengthen our vessel sales order book," said Ng Chin Heng, executive chairman of Coastal.

"We are glad to secure these major contracts win despite the market of OSV is slightly congested recently," he added.

As of to date, Kuala Lumpur-listed Coastal has about MYR583m worth of vessel sales orders awaiting delivery to customers up to 2013.
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