Liftboat order of S$70.5m boosts Technics counter

Singapore

TECHNICS Oil & Gas is the latest Singapore-based offshore marine player to enter into liftboat construction following its announced S$70.5 million newbuild order on Tuesday, which triggered positive movement in the counter on the SGX overnight.

The newbuild liftboat order awarded by an established regional player based in Malaysia comes with an optional second unit to be exercised within six months. Delivery of the first liftboat is scheduled within two years, Technics said in an announcement.