Swissco secures Indonesian crew boat contract

Exchange-listed marine offshore support firm Swissco International Ltd announced on Tuesday that it has secured a US$ 1.3 million contract for its 50-person high speed aluminum crew boat to be deployed in Indonesia.

As part of the terms of the contract, the said offshore support vessel which is owned by Swissco Asia Pte Ltd, will be transferred to the Group?s 49% owned associated company, P.T. Swissco Indonesia.

?In keeping with the strategy of establishing and growing new markets, this consequential move will allow the Group to tap the potential of the oil and gas industry in Indonesia,? the company said.

Swissco presently operates a fleet of 30 offshore supply vessels, 3 OPL boats and expects to delivery of 4 vessels for the rest of 2009 and 3 in 2010.(alex)