Scomi Marine’s Singapore based CH Offshore Limited accounted for the majority of quarter’s net profit as the offshore vessel support market remained active despite the drop in the price of crude oil. It has nearly completed its fleet renewal programme that commenced in 2002, and is expected to take delivery of one deepwater anchor handling and tug (AHTS) vessel in November 2009 to add to its existing fleet.
Indonesia continues to be the company’s major market with 71% of vessels working in the country and servicing CNOOC limited, Chevron Corporation, ConocoPhillips and BP p.l.c. Meanwhile, the balance fleet operates in Malaysia, Thailand, Middle East, Latin America and Australia.
The coal logistics business remains the major contributor of the company’s revenue, “We continue to consolidate our position as a valued marine transportation provider for coal. Even in this challenging environment, the Company is optimistic of the performance for the year. There are new opportunities that exist where we can leverage our vast experience and expertise. As for the OSV division, markets in South East Asia remain resilient and we are confident of obtaining new charters or renewals for our vessels.” said Mukhnizam Mahmud, president of Scomi Marine.
