Vallianz Buys Two Newbuilt AHTS Vessels

Vallianz Singapore-based offshore services provider Vallianz Holdings Limited has signed an agreement to acquire two newbuilt vessels for a total consideration of USD 21.8 million. The anchor handling tug supply (AHTS) vessels, to be bought from an undisclosed seller, will be financed by internal resources of the group and bank loans, Vallianz said, adding that ten percent of the total amount would be gathered through the sale of ordinary shares. Vallianz informed that the acquisition of the vessels is in its ordinary course of business, and is undertaken as part of the strategy to support on-going business. The announcement comes on the back of Valianzs time charter contract signed in December 2015 with a national oil company (NOC) in the Middle East. Valued at up to USD 98 million, the deal includes the supply of four offshore support vessels (OSV) which are scheduled to start work at the NOC’s oil fields in the first quarter of 2016 for a period of up to five years.