Thaumas Marine Secures Charter Deal for Newbuild Jack-Up

Coastal’s wholly-owned subsidiary, Thaumas Marine Ltd has secured a charter contract for a newbuild Jack-Up Gas Compression Service Unit  for an aggregate value of approximately RM1.24 billion from a group of Mexican companies.

Pemex’ production unit in the Gulf of Mexico

The company has in turn entered into a gas compression service contract with Petroleos Mexicanos, the Mexican state-owned petroleum company.

The construction work will be started immediately and is expected to complete in the first half of 2015. The charter contract is for a period of eight years with extension option up to twelve years. The charter contract is expected to commence by the second half of 2015.

The charter contract valued at approximately RM1.24 billion is expected to contribute positively to the revenue stream, earnings and net assets of Coastal Group for the financial year ending 31 December 2015 and the financial periods thereafter for the duration of the charter contract.

 

Press Release, February 10, 2014

 

 

 

Share this article

Follow World Maritime News

Posted on February 10, 2014

In Depth>

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >