Kim Heng wins OSV spot charters

A WHOLLY-OWNED subsidiary of Kim Heng Offshore & Marine Holdings has won spot charters for three offshore support vessels (OSVs) to perform rig towage and other marine operations.

Kim Heng Marine & Oilfield Pte Ltd has also obtained a domestic shipping licence to perform these operations over 60 days in East Malaysia.

The three OSVs were acquired from a bank auction sale and were previously part of Swiber Holdings' operating fleet. Swiber has entered into judicial management since October 2016.

The spot charters are not expected to have any material impact on the earnings per share of the company for the financial year ending Dec 31, 2017.