Ezion, TSC creating ‘world’s largest’ liftboat owner

Ezion and TSC Group have entered into a joint venture agreement with the aim to “to become the world’s largest owner and operator of Liftboats.”

Singapore’s Ezion on Wednesday said its subsidiary Teras Investments would form the JV with TSC’s subsidiary Alliance Offshore to cooperate in the ownership and operations of Liftboats, with the aim to become the world’s largest owner and operator of Liftboats.

Pursuant to the JV agreement, a joint venture company known as Renergy Offshore Pte. Ltd. has established in Singapore.

Renergy Offshore currently has an issued and paid-up capital of SGD100.00 with the intention to increase to approximately US$4,000,000, whereby TSC and Ezion 51% and 49% equity stake in the JV Co respectively.

Accordingly, the JV Co is now an indirect associated company of Ezion.

TSC will provide necessary assistance to the JV Co to obtain the capital required for the acquisition of new liftboats and working capital. Ezion will assist the JV Co in the marketing and operations of the Liftboats, Ezion said.

TSC is approximately 52% indirectly-owned by China Merchants & Great Wall Ocean Strategy & Technology Fund (L.P.)

 

Share this article

Follow Offshore Energy Today

Events>

<< Feb 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 1 2 3

19th Annual Arctic Oil & Gas Symposium

CI Energy’s 19th Annual Arctic Oil & Gas Symposium has brought together hundreds…

read more >

Egypt Petroleum Show

This event will feature 500+ regional & international exhibiting companies from over 35 countries…

read more >

INTERNATIONAL PETROLEUM WEEK 2019

International Petroleum (IP) Week is a renowned and respected fixture in the annual calendar…

read more >

Fuel Cell Expo 2019

FC EXPO is world’s largest show for hydrogen & fuel cell…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply