Serawak?s firm to sell 3 tug boats to Indonesia
Monday, July 21 2014 - 10:27 AM WIB
Managing director Datuk Lau Nai Hoh said TAS would likely ink the contracts soon for the supply of three anchor-handling tug supply (AHTS) vessels to an existing Indonesian client.
TAS had delivered one AHTS vessel each to two Indonesian clients, who had placed the orders in March and October last year. The two vessels were the first to be sold to Indonesia, which is TAS? traditional key market for the supply of tugboats for the mining and timber industries.
?We are also in advanced negotiations with interested foreign parties for the supply of three similar OSVs,? he added.
Over the years, TAS has established a firm footing in the United Arab Emirates (UAE), where it has sold more than 20 OSVs.
Lau said the group was currently constructing six more OSVs in an established contract shipyard in China, adding that some of these build-to-stock vessels would be ready for sale by late this year and next year.
He said the AHTS vessels built by TAS were priced between US$12 million and $15 million each.
?The increase in demand for energy and high-resilient crude oil prices of about $110 per barrel will continue to spur oil majors to maintain, if not increase, the expenditures on (oil) exploration, and particularly, production.
?Increase in demand for modern jack-up rigs entering the market will result in the need for more OSVs. Thus, we expect the demand for both platform support vessels and AHTS vessels to be strong,? he added.
Lau expects some of these offshore developments to come from Indonesia, Malaysia and Myanmar. He also foresees the oil and gas industry in the region requiring the provision of various OSVs.
TAS outsources the construction of most of the group?s OSVs to the contract China shipyard, while its shipyard in Sibu is involved in the construction of tugboats, landing craft and other types of vessels. (*)