SE Asia Oilfield Service Minnows Must Acquire or Expire
more M&As," said Joachim Skorge, the Asia head of investment banking at DNB Bank. "What we often see is when the market is improving, people looking for exit will be more open to sell." Drawn by the promising Southeast Asia market, Australia's Mermaid Marine Australia Ltd bought Jaya Holdings Ltd for A$550 million ($510.48 million) in February. The purchase of Jaya, which owns a fleet of 27 OSVs and operates a shipyard in Batam, Indonesia, was the biggest acquisition in the region's OSV space in at least a decade. Singapore-based Ezion Holdings Ltd, which dominates the region's
New Jaya Multi-Purpose Platform Supply Vessel Delivered
Leading offshore energy services provider, Jaya Holdings Limited confirmed the on-time delivery of its second new Multi-Purpose Platform Supply Vessel (MPSV), Jaya Vigilant. She sailed from Jaya’s shipyard in Batam yesterday and was immediately on hire by its charterer for a term program in East Africa. The vessel will load a Remotely Operated Vessel (ROV) spread and mobilize across the Indian Ocean to load further subsea equipment for the client in Durban in October. “[Jaya Vigilant] has a 50 ton subsea crane with active heave compensation for service in water depths of up to 3
Jaya Wins $20 Million Contract in East Africa
Jaya Holdings announced it has signed a contract to charter its newbuild DP2 Platform Supply Vessel (PSV) Jaya Vigilant for a long term operation in the Indian Ocean, offshore Mozambique. The two-year contract, which includes charterer’s options, has a value of more than $20 million. Jaya Vigilant, designed as a large PSV, is now being upgraded with additional equipment required for the charter’s work scope prior to delivery from Jaya’s own yard in Batam, Indonesia at the end of September 2013. The work scope includes Remotely Operated Vehicle (ROV) support, survey work and core
Atlantic Towing and Jaya Seal Second Offshore Deal
Offshore energy services provider Jaya Holdings Ltd. reached an agreement to sell a second new state-of-the-art anchor handling tug supply vessel Jaya Sovereign to Canadian buyers, Atlantic Towing Ltd. The vessel’s delivery is expected by the end of 2013. The Jaya Sovereign is a sister ship of the Jaya Supreme which was delivered to Atlantic Towing in November of last year. Both vessels are among the most sophisticated anchor handlers ever built at a Singapore shipyard. In announcing the sale, Jaya said Atlantic Towing’s decision to acquire the sister ship was due to the high quality
Jaya Delivers with Pride
Jaya Holdings Limited, operators of a Singapore offshore shipbuilding yard, has delivered a new state-of-the-art multi-purpose offshore support vessel Jaya Pride. “Jaya Pride is one of the most sophisticated vessels produced by Jaya’s Batam shipyard,” said Chief Executive Officer Venkatraman Sheshashayee, “a highly versatile DP2 workboat for offshore platform maintenance, one we have already fixed on a time charter with a key customer.” Mr Sheshashayee paid tribute to his shipbuilding team for their dedicated professionalism and coordinated efforts completing the
Meet the new IHC Packhorse OSV
projects. IHC Merwede offers the portable equipment for the IHC Packhorse-Maxi, either as an in-house supply package or as specified by customers, depending on their preference. The new IHC Packhorse range will initially be built through the cooperation agreement established between IHC Merwede and Jaya Holdings. Jaya Holdings CEO, Venkatraman Sheshashayee, says, “We welcome the launch of the IHC Packhorse as another key step forward in our ongoing cooperation with IHC Merwede. This is an exciting development in the market to offer vessels built with European quality at Asian prices.”
Singapore Offshore Company's Executive Appointment
Jaya Holdings appoints George Horsington as the company’s first President for Business Development. Jaya Holdings is a leading Offshore Energy Services Group, headquartered in Singapore. The Jaya Group provides a wide range of services and solutions to the offshore oil and gas E&P domain. Mr Horsington, 38, is set to join Jaya on September 6, 2012 after more than 10 years in various senior management positions with Swire Pacific Offshore Operations. The new position is an executive appointment and Mr Horsington will be responsible for all areas of business development including business
February 2024
