Vallianz scores $63 million charter gig

Singapore’s Vallianz has secured a time charter contract for two of its Anchor Handling Tug, Supply and Safety Standby vessels.

The contract is valued at up to $63 million, and has been signed with an undisclosed national oil company (NOC) in the Middle East.

In a statement issued on Monday, Vallianz said the contract was for a period of seven years. Vallianz further said the first vessel should be deployed to the NOC’s oil fields in the Arabian Gulf during the third quarter of 2016 while the second vessel is scheduled for deployment in the first quarter of 2017.

This new contract brings the company’s charter services order book up to $950 million, which is, according to the company, consisted mostly of long term charters stretching as far as 2024.

Vallianz CEO, Ling Yong Wah said: “We are pleased to win this contract after the NOC awarded a US$98 million contract to the Group in December last year for the charter of four Anchor Handling Tug Supply vessels. This clearly demonstrates the good working relationship we have established with the NOC and the customer’s continuing confidence in the Group’s ability to provide best-in-class support for its offshore oil and gas production activities.”

Vallianz said it recently started the charters for the four AHTS vessels and its specialized offshore floating storage and supply vessel for the NOC.

The company finished off by stating it is also bidding for other charter contracts of a combined value of $1.7 billion and that the financial effects of this lates contract will be evident in the second half of the financial year ending December 31.

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