Vallianz enters Latin America with charter and ship management contract worth US$82.0 million
Vallianz Holdings Limited, an integrated offshore marine solutions provider in the offshore oil and gas industry, through its subsidiary, has received a Letter of Award (“LOA”) for the provision of Charter and Ship Management services worth US$82.0 million to a major offshore construction company. The LOA excludes any variati on or additional works to be negotiated later. For this award, vessels including Submersible Vesse ls, Pipe Carriers, Platform Supply Vessels (“PSV”), Anchor Handling Tug Supply Vessels (“AHTS”) and cargo barges will be deployed in Latin America from 3QFY2014 to FY201 5.
Vallianz will also provide a full suite of offshore marine support services, includin g mobilisation, demobilisation, marine logistics support and operational services. Commented Mr. Darren Yeo, Executive Director and Chief Executive Officer of Vallianz: “We are pleased to be awarded our first charter and ship management LOA for 2014, which augments our current order book to another ne w record of US$524.0 million. This Latin America award is a strong and promising start for the year for Vallianz and we are looking forward to riding on the exciting opportuni ties that this region brings.
“Global offshore oilfield related investments are f orecast to grow strongest in Latin America over the next few years, with E&P (exploration and production) spending forecast to increase to US$84.0 billion in 2014, re presenting a 12.8% growth over 2013. Demand for offshore supply vessels in South America is one of the fastest growing globally, with a forecast compounded annual growth rate of 10.3% from 2013 to 2018.” “We are pleased that our bidding efforts across Asi a Pacific, Middle East and Latin America totaling approximately US$1.2 billion is st arting to reap significant rewards. This project will provide Vallianz with the platfor m to showcase our marine solutions capabilities and to build on our reputation in the Latin American region. Not only will this platform bode well for future tenders, more importa ntly, it will help open doors for collaborations with prospective customers for their offshore requirements in this region.”
About Vallianz Holdings Limited
Vallianz Holdings Limited is an integrated offshore marine solutions services provider in the oil and gas indu stry that is listed on SGX-Catalist in Singapore. The Company provides offshore marine ser vices to oil majors and national oil companies worldwide. Headquartered in Singapore , Vallianz has established its geographical footprint in Asia Pacific, the Middle East and Latin America. Vallianz is spearheaded by an experienced Board and management team. Vallianz will continuously develop and sharpen its technical expe rtise to build upon the Group’s robust business model. For more details, please refer to www.vallianzholdings.com This news release has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, Stamford Corpora te Services Pte. Ltd. (“Sponsor”), for compliance with the relevant rules of the Singa pore Exchange Securities Trading Limited (“SGX-ST”). The Sponsor has not independent ly verified the contents of this news release.