Coastal Group Units to Sell Support Ships

10 February 2011 (Last Updated February 10th, 2011 18:30)

Three wholly-owned subsidiaries of Coastal Group have secured contracts for the sale of seven offshore support vessels (OSVs), three tugboats and two oil barges worth MYR268m ($88.17m). Six OSVs were purchased by Tidewater Group, while Swiber Group acquired the seventh. <

Three wholly-owned subsidiaries of Coastal Group have secured contracts for the sale of seven offshore support vessels (OSVs), three tugboats and two oil barges worth MYR268m ($88.17m).

Six OSVs were purchased by Tidewater Group, while Swiber Group acquired the seventh. < p>

The company said that it has MYR 760m ($250m)-worth of vessel sales orders awaiting delivery to customers up to 2012.