Alam Maritim Resources Berhad has chartered a Safety Standby Rescue Vessel MV Setia Emas to Allianz Middle East Ship Management LLC, a marine contractor providing Offshore Support Vessels and diving services to the offshore Oil & Gas industry, incorporated in United Arab Emirates.
According to Alam Maritim Resources, the contract for the charter of MV Setia Emas, made through its subsidiary, Workboat International DMCCO, is for a primary period of three years with an extension option of another two years.
The company said that the contract is valued at approximately RM40.7 million ($10.57M), inclusive of extension period.
“The contract is expected to contribute positively to the earnings and net tangible assets of ALAM for the financial year ending December 31, 2015 and beyond,” the company has said in its press release.
MV Setia Emas has 250 square metres of clear deck space and can accommodate 24 crew.