Vallianz buys two new vessels

Singapore-based Vallianz Holdings on January 6, 2016, entered into two agreements to purchase two new built vessels for a total amount of $21.8 million. 

The agreement was signed through Vallianz’s wholly owned subsidiary, Vallianz Engineering, but Vallianz did not reveal the name of the owner of two vessels.

Vallianz is a vessel owner providing chartering, brokering, vessel management and marine marketing services.

The company said that ten percent of the total amount, which is $2,180,000 would be paid in shares upon delivery of the vessel. Vallianz will issue to the seller 70,532,596 new ordinary shares of the company at an issue price of S$0.0443 (approx. 0.03 USD) per consideration share.

The remaining $19,620,000 will be paid in cash, said the company.

The purchase will be funded by the internal resources of the Group and bank loans.

Vallianz revealed no further details regarding the vessel type.

Offshore Energy Today Staff

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