Malaysian offshore marine support services firm Perdana Petroleum is making a significant investment of $33.94 million to build two new anchor handling tug supply (AHTS) vessels. This strategic move is part of the company's fleet rejuvenation program, aimed at modernizing its aging fleet, which currently averages 17 years old. The vessels, each with a 60-tonne bollard pull, will be constructed by China's Aulong Shipbuilding and are expected to be delivered by the third and fourth quarters of 2028.
Strategic Fleet Renewal
The decision to renew the fleet comes on the heels of Perdana Petroleum securing contracts with Petronas Carigali to charter two AHTS vessels. These contracts, with durations of 303 and 224 days respectively, plus an optional 40-day extension, underscore the company's commitment to enhancing its operational capabilities.
"Against the backdrop of improved market conditions, we believe this is the right time to modernize and progressively rejuvenate our fleet," said Jamalludin Obeng, Perdana Petroleum’s managing director.
Market Conditions and Demand
The offshore support vessel market is showing signs of recovery, driven by sustained upstream activity and firmer charter rates. This positive trend is supported by stable utilization levels across selected vessel categories, making it an opportune time for Perdana Petroleum to invest in fleet modernization.
Financial and Operational Outlook
The construction of the new vessels will be financed through a combination of internal funds and bank borrowings. This investment is expected to position Perdana Petroleum favorably in the market, enhancing its competitiveness and supporting long-term business growth.
| Vessel | Bollard Pull | Delivery Date |
|---|---|---|
| AHTS 1 | 60 tonnes | Q3 2028 |
| AHTS 2 | 60 tonnes | Q4 2028 |
Future Prospects
Looking ahead, the offshore oil recovery efforts, such as those initiated by Petronas through regional alliances, are likely to bolster demand for advanced marine support services. This aligns with Perdana Petroleum's strategic objectives to remain a key player in the industry.
The upcoming delivery of these vessels will be closely watched by industry stakeholders, as it may set a precedent for further investments in fleet renewal across the sector.
