Business

Wednesday March 25, 2009

Bumi Armada launches new vessel


KUALA LUMPUR: Bumi Armada Bhd yesterday launched its anchor handling tug and supply (AHTS) vessel, the Armada Tuah 105, at DryDocks World Shipyard on Batam Island, Indonesia.

Chief executive officer Hassan Basma said in a statement the 12,000-brake horsepower vessel was the 13th in its 20-vessel new build programme, “Steel on Water 1”.

The final seven vessels would be launched this year, he said, adding that Armada Tuah 105 would go to work off the coast of Nigeria.

Hassan said its Armada Tuah 104 AHTS vessel, which was launched last October, would also be sent to Nigeria while its sister vessel, Armada Tuah 102, would be deployed off Malaysian shores.

“Our foresight in starting this new build programme two years ago has put us in good stead as it has resulted in lower-capital expenditure compared with those who started building at a later stage,” said Hassan.

“In this economic slowdown where many new buildings have either stalled or cancelled, we are now able to provide oil majors newer and better equipped vessels. Older tonnage would lose out to our younger vessels.”

Bumi Armada owns and operates close to 50 offshore support vessels.


BARMADA : [Stock Watch] [News]


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