SE Asia Oilfield Service Minnows Must Acquire or Expire
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 market
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