Miclyn Buys 50 Pct of Uniwise Towage Limited (Thailand)

Miclyn Express Offshore announces that it has executed a Sale and Purchase Agreement to acquire 50% of the shares in Uniwise Towage Limited (“UWT”) from Svitzer Asia Pte. Ltd. (“Svitzer”), a subsidiary of the global A.P. Moller-Maersk Group.

Domiciled in Thailand, UWT operates a fleet of five (5) state of the art Marine Support Vessels (MSVs) and Utility Vessels supporting tanker lifting, static tow, drilling rig activities, anchor handling, SPM maintenance, floating hose maintenance, cargo transportation, stand-by, fire-fighting and oil spill response. The vessels are all chartered long term to oil companies in Thailand. The business has been operating since 1999 as a joint venture between Svitzer and the Unithai Group, MEO’s existing joint venture partner in Uniwise Offshore (“UWO”). MEO has agreed to purchase all of Svitzers shares in UWT for a consideration of US$18.9 million. This transaction is not expected to have a material impact on MEO’s financial results for Financial Year 2014.

Commenting on the acquisition, MEO Chief Executive Officer, Diederik de Boer, said: “This acquisition is a natural extension of the position we have built up in Thailand in offshore vessel support services. We are very comfortable with our Joint Venture partners having worked with them for a number of years. The integration of UWO and UWT will be seamless given that the two businesses already share office space and resources. We look forward to developing this new venture and working with our customers in Thailand to continue to uncover new opportunities for growth through delivery of operational excellence.”

Press Release, October 28, 2013

 

Share this article

Follow Offshore Energy Today

Events>

<< Sep 2019 >>
MTWTFSS
26 27 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 29
30 1 2 3 4 5 6

Africa Oil & Power 2019

The Africa Oil & Power conference will bring together an elite class of ministers and senior-level government…

read more >

OWI LATAM 2019

Over the two-day conference, 25+ expert speakers will share exclusive insight on how to develop an integrity, production and P&A strategy…

read more >

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

Argentina Oil and Gas Expo 2019

The Argentine Oil and Gas Institute (IAPG) organizes the Argentina Oil & Gas Expo bringing together the most…

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