Logindo eyes seismic survey vessel business

PT Logindo Samudramakmur, which operates oil and gas offshore support vessels, plans to expand into seismic survey vessel business amid looming opportunities in the sector, Bisnis Indonesia reported on Thursday.

The paper quoted Logindo Director Rudy Kusworo as saying that the company plans to partner with foreign investor when entering the seismic survey vessel business due to the expensive price of such vessel of around US$60 million per unit.

He acknowledged that the seismic survey vessel business in the country?s oil and gas sector is quite prospective for local shipping companies as the government will ban the use of foreign-flagged vessels starting end of next year.

Logindo currently operates 58 units of offshore support vessels including 9 units of anchor handling tug supply (AHTS) vessels, which the remainders consist of platform supply vessels, landing cravy transport, diving support vessels, and crew boats.

Rudy said that the company plans to acquire 4 new AHTS vessels next year. (*)