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Kim Heng O&M acquires 3 AHTS vessels from Swiber for $13.3 mil

PC Lee Published on Mon, Jun 12, 2017 / 7:11 PM GMT+8

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SINGAPORE (June 12): Kim Heng Offshore & Marine has acquired three 10,800 bhp Anchor Handling Tug/Supply (AHTS) vessels for a consideration of US$9.6 million ($13.3 million).

Kim Heng says the downturn of the oil and gas industry has enabled the group to acquire the assets at extremely low valuations.

Previously owned by Swiber Holdings, which is under judicial management, the vessels were valued at US$33 million per vessel.