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Vallianz Holdings’ Order Book At Record High After US$458 Million Contract Win
Daily Bulletin | 20 July 2015

Vallianz Holdings has secured new contracts valued at up to US$458 million with an existing customer in the Middle East, which is one of the world’s largest national oil companies.

The contracts lengthen the charter duration for 19 of its offshore support vessels currently deployed to support the customer’s offshore oil and gas operations.

The vessels will continue to be deployed to the customer until June 2018, with an option to extend for two more years until June 2020. Charter rates for the vessels in the new contracts have been revised lower by about 10 percent on average.

Following the newly secured contracts, the group’s order book has been boosted to a record US$968 million with time charters stretching up to 2022.

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