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Vallianz bags up to US$210m in new charter contracts

OFFSHORE services provider Vallianz Holdings has won new charter contracts worth "up to US$210 million", taking its order book to a record US$1.2 billion, it said in a Singapore Exchange filing on Monday morning.

The new charter contracts are for the supply of 13 offshore support vessels to "a national oil company in the Middle East", it said.

It added the vessels would be chartered to the unidentified company for up to seven years and that it expects the vessels to be deployed progressively at that company's oil fields from the second half of 2016.

Vallianz chief executive officer Ling Yong Wah said in a statement that Vallianz was "presently bidding for charter contracts with a combined value of US$1.5 billion, mainly for projects located in the Middle East".

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