Malaysia: The Executive Chairman of Coastal Contracts, Ng Chin, has confirmed that the company has secured a two-vessel contract worth US$19.7 million.
"The predominantly weak and volatile global market conditions are not deterring the Coastal Group from securing new contracts and replenishing its vessel sales orderbook," Mr Ng was quoted as saying by Vinamaso.
The contracts are for the building of two offshore support vessels. With the new orders, Coastal Contracts now has an orderbook worth over US$430 million and stretching to 2011.
"Demand for our OSV and marine transportation vessels are showing indicative signs of picking up on the back of modest recovery in the price of commodities," said Mr Ng.
