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Kim Heng Offshore & Marine acquires 2 offshore support vessels

KIM Heng Offshore & Marine Holdings has acquired two offshore support vessels- an anchor handling tug/supply (AHTS) Lewek Lynx, and a chase boat, Swissco Summit.

Kim Heng said that both vessels were acquired at good value, without revealing the prices.

Lewek Lynx is a 65-tonne vessel measuring 60 metres by 15 metres. It will be renamed Mazu 60, joining the group's growing fleet of AHTS vessels. The group said it has received a letter of intent for a short-term two-month charter contract and will be preparing to reactivate the AHTS to be fully operational in August for the provision of tow services andother offshore-related activities for a leading oil major in Q3 2018.

The group had sold the Swissco Summit, a 30-tonne bollard pull chase boat, to a foreign buyer shortly after the purchase.

The group is in the process of acquiring more vessels to take advantage of economies of scale to improve the group's operating results, it added.

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