US$800m plan to boost Pacific Radiance fleet

Beef-up over 5 years could make it one of the largest in region

RECENTLY listed Pacific Radiance plans to upsize and upscale its offshore oil-and- gas services fleet over the next five years in an estimated US$800 million newbuilding investment programme which could make it one of the largest offshore vessel owners and operators in the region.

The investment includes US$320.8 million in capital expenditure the group had earmarked for 17 new vessels on order and to be delivered over the next two years. These newbuilds will add to its existing fleet of 80 vessels...

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