Pacific Radiance Ltd. has secured a long term charter contract worth over US$140 million, including extension options, for one of its vessels ahead of its expected delivery in 2016/17.
Under the contract, which was secured by the Group's joint venture, DOT Radiance Pte. Ltd., the vessel will be chartered to a new client to perform offshore support services in a key emerging market. The vessel is in its early stage of construction.
Mr Pang Yoke Min, the Executive Chairman of Pacific Radiance, said: “To have a contract signed for a vessel two to three years ahead of its delivery affirms our strong industry network as well as understanding of our clients' needs to build market relevant vessels.