| Description |
The Group is an established integrated offshore & marine value chain services provider with customers from over 25 countries in the regions of Southeast Asia, Australasia, Middle East and Europe, including major offshore drilling contractors and support service providers such as Transocean Ltd, Seadrill Limited, Noble Corporation, Shelf Drilling Holdings Ltd and Hydro Marine Services, Inc. (a subsidiary of McDermott International, Inc).
The Group’s activities are classified into two broad categories, namely (i) Offshore Rig Services and Supply Chain Management Services; and (ii) Vessel Sales and Newbuild.
(i) Offshore Rig Services and Supply Chain Management
The services provided under the Offshore Rig Services and Supply Chain Management segment comprise mainly engineering, procurement and construction projects for the offshore oil and gas sector and the provision of vessels and related logistics services. The Group’s Offshore Rig services typically include the construction and fabrication of sections of drilling rigs (such as jack-up rigs, tender rigs, semi-submersibles and drillships), installation of offshore production modules and systems, as well as offshore platform and vessel re-activation and maintenance projects. The Group also provides Supply Chain Management services to the offshore and marine industry, which includes, inter alia, rig towage, chartering of its fleet for marine installation and transportation purposes, inventory management, warehousing, supply of offshore consumables and expedited delivery services.
(ii) Vessel Sales and Newbuild
The Vessel Sales and Newbuild segment comprises the purchase of vessels from vessel owners, which the Group subsequently refurbish and on-sell to customers. Such activities are typically undertaken according to orders placed by customers. The Group may also from time to time undertake such acquisitions and refurbishment of vessels in anticipation of market demand. The Group is also engaged in the newbuild of offshore vessels, which are typically undertaken according to orders placed by customers. From time to time, the Group may also embark on newbuild of offshore supply vessels, such as, pipe-laying barges, accommodation vessels, tugs and barges, in anticipation of project demands for subsequent chartering or sales.
Additional info from SGX:
The Group is an established integrated offshore & marine value chain services provider with customers from over 25 countries in the regions of Southeast Asia, Australasia, Middle East and Europe, including major offshore drilling contractors and support service providers such as Transocean Ltd, Seadrill Limited, Noble Corporation, Shelf Drilling Holdings Ltd and Hydro Marine Services, Inc. (a subsidiary of McDermott International, Inc).
The Group’s activities are classified into two broad categories, namely (i) Offshore Rig Services and Supply Chain Management Services; and (ii) Vessel Sales and Newbuild.
(i) Offshore Rig Services and Supply Chain Management
The services provided under the Offshore Rig Services and Supply Chain Management segment comprise mainly engineering, procurement and construction projects for the offshore oil and gas sector and the provision of vessels and related logistics services. The Group’s Offshore Rig services typically include the construction and fabrication of sections of drilling rigs (such as jack-up rigs, tender rigs, semi-submersibles and drillships), installation of offshore production modules and systems, as well as offshore platform and vessel re-activation and maintenance projects. The Group also provides Supply Chain Management services to the offshore and marine industry, which includes, inter alia, rig towage, chartering of its fleet for marine installation and transportation purposes, inventory management, warehousing, supply of offshore consumables and expedited delivery services.
(ii) Vessel Sales and Newbuild
The Vessel Sales and Newbuild segment comprises the purchase of vessels from vessel owners, which the Group subsequently refurbish and on-sell to customers. Such activities are typically undertaken according to orders placed by customers. The Group may also from time to time undertake such acquisitions and refurbishment of vessels in anticipation of market demand. The Group is also engaged in the newbuild of offshore vessels, which are typically undertaken according to orders placed by customers. From time to time, the Group may also embark on newbuild of offshore supply vessels, such as, pipe-laying barges, accommodation vessels, tugs and barges, in anticipation of project demands for subsequent chartering or sales.
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