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Vallianz wins contract worth up to US$98m

VALLIANZ Holdings on Monday said it has won a time charter contract valued at up to US$98 million to supply four offshore support vessels (OSVs) to an existing state-owned customer in the Middle East, which is one of the world's largest national oil companies.

The four OSVs will commence operations at the customer's oil fields in the first quarter of 2016 for a period of up to five years.