Penguin International sets up Malaysian crewboat subsidiary

Singapore based Penguin International Limited reports that its associated company, Pelican Offshore Malaysia Corp, has set up a wholly-owned subsidiary in Malaysia named Flex Fleet Sdn Bhd ("Flex Fleet"), MarineLog reports.

The principal activity of Flex Fleet is the management and operation of crewboats and Fast Supply Intervention Vessels.

Penguin International recently reported that its shipbuilding unit, Penguin Shipyard International, had delivered its first of a new generation of 38 m Flex-38 green crewboats, achieve cruising speeds of over 24 knots with a fuel consumption rate of only 510 liters per hour