Berlitz Marine looks to opportunistic acquisitions

Singapore

FRESH from wrapping up the purchase of two anchor handling tug supply vessels (AHTSs) from Pacific Richfield Marine (PRM), Berlitz Marine's chief executive KM Chan said the privately-owned outfit will continue to make use of the opportunity provided by the market's downturn to selectively buy offshore support vessels (OSVs) to replace charter-in units on its operating fleet.

Mr Chan confirmed a BT report that Berlitz Marine has completed the purchase of two mature shallow-water AHTSs, Pacific 38 and 68, from PRM. The acquisition of the pair of AHTSs was backed by loans from Berlitz Marine's "valued banker", DBS, Mr Chan added.