Emas nets $93 million in new charters

Offshore services provider Emas Offshore has secured new contracts for charters amounting to approximately $93 million, including options if exercised.

While $61 million was awarded during the period from September 1, 2016, to November 30, 2016, (Q1FY2017), the remaining $32 million worth of contracts were awarded during Q4FY2016 which resulted in the total charters awarded during FY2016 to approximately $97 million, the company said on Thursday.

These new charters will see Emas Offshore’s Anchor Handling Tug (AHT), Anchor Handling Tug and Supply (AHTS) and Platform Supply (PSV) vessels supporting national oil companies, international oil companies and oil majors on various projects in Southeast Asia, India, and West Africa of various contract durations, from less than a month to three years firmed.

Commenting on the contract wins, Captain Adarash Kumar, Chief Executive Officer of EMAS Offshore said, “While the Group has been able to secure contracts, we expect the market environment to remain challenging. While we are expanding our presence in West Africa, Asia Pacific will still remain our main market. We remain committed to maintaining our rate of vessel utilization.”

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