Coastal Contracts secures charters worth RM28 million

Malaysian offshore services provider Coastal Contracts has signed three separate charter agreements with unnamed clients.

Coastal Contracts’ subsidiaries Pleasant Engineering, Coastal Transport Sandakan, and Coastal Offshore Venture were awarded charters for two offshore support vessels (OSVs) and a third vessel of an unidentified type.

The charters have an aggregate value of approximately RM28 million (US$6 million).

One charter has a firm period of five years while the other two are both short-term charters of undisclosed duration.