Vallianz project bids worth over $1.2 bln

Following its entrance into the Kingdom of Saudi Arabia through the acquisition of Rawabi Swiber Offshore Services Co. Ltd. in October 2013, Vallianz Holdings Limited, an integrated offshore marine solutions provider in the offshore oil and gas industry, continues to execute on its global expansion plans.

In February 2014, Vallianz entered Latin America through the subscription of shares in a newly-incorporated company, Vallianz Marine Mexico S.A. DE C.V.

This impetus has resulted in the Group confidently participating in bids worth over US$1.2 billion for projects in Asia, Middle East, Latin America and Africa. For these projects, Vallianz will provide a variety of offshore vessels to perform services encompassing platform supply run services, anchor handling and supply services, accommodation services and salvage support services to major international and national oil and gas companies, as well as service providers to oil and gas companies.

Darren Yeo, Executive Director and Chief Executive Officer of Vallianz, said: “Over the course of the last few months, Vallianz has attracted industry veterans and professionals to its ranks and this has strengthened management capability considerably. The outcome of this undertaking is reflected in Vallianz’s bid book of US$1.2 billion. We are confident of our prospects for the outcome of the bids.”

In anticipation of the above, Vallianz will be expanding its fleet size by an additional 24 vessels to be delivered within the next 24 months. These vessels include primarily Platform Supply Vessels, Anchor Handling Tugs with Supply capability vessels, Multi-Purpose Vessels and anchor handling tug vessels.

Vallianz has also signed a collaboration agreement with one of China’s first class international shipbuilding enterprises. For this collaboration, Vallianz will provide market intelligence, including future trends and engineering specifications and requirements for up to 200 new vessels ranging from AHTS, PSV, MPV and Accommodation Work Vessels. Vallianz will have no upfront financial obligations or liabilities and would have the right of first refusal to the vessels constructed by the shipyard in China.

Darren Yeo added: “Apart from pursuing projects which bring medium and long-term charters, another of Vallianz’s strategy for growth is to expand its asset base with the best offshore marine vessels in the market. Vallianz has made the strategic decision to immediately enhance its fleet and product offering with the 24 new vessels. To further secure Vallianz’s longer term potential and crystallise on market opportunities, we are pleased to collaborate with one of China’s first class shipyard to increase our flexibility and ability in providing vessels with competitive pricing to our clients, who are both major international and national oil and gas companies, as well as service providers to oil and gas companies. The strategic collaboration with the shipyard enhances Vallianz’s capability to plan ahead and the nimbleness to provide marine vessels in a timely manner so as to swiftly capitalise on the industry’s burgeoning growth opportunities.”

Yeo further noted: “This collaboration allows Vallianz the long-term remarkable capability to confidently bid for projects and swiftly capitalise on opportunities, while having the opportunity of access to vessel supply in which we are confident of the engineering specification and which meets the most stringent industry requirements. This collaboration will also allow us to manage our fleet renewal programme.”

Yeo concluded: “Coupled with the commitment, experience and dedication of the Vallianz team, I am confident that we are poised and driven to be a leading global player in the dynamic and rapidly growing offshore marine industry. Given the potential that is ahead of us, Vallianz looks forward to reach new vantage points in our growth trajectory”.

Press Release, April 23, 2014

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