Vallianz Shipbuilding and Engineering (VSE) has recently took on a conditional sales and purchase agreement in the bid to take over a shipyard facility in Batam, Indonesia, Vallianz Holdings Limited has said.
Darren Yeo, Chief Executive Officer of Vallianz, has commented: “With direct ownership in a shipyard facility, Vallianz will have its own marine base to dock and carry out maintenance operation for our vessels and third-party vessels that are managed by the Group. As we continue with our fleet expansion program, we expect to reap greater cost savings and operating efficiencies from having our own marine base as compared to leasing third-party shipyards.”
The new deal will see VSE obtain the entire share capital of Jetlee Shipbuilding and Engineering Pte Ltd, and its 99% owned Indonesian entity PT United Sindo Perkasa.
The shipyard itself occupies a land area of about 8.8 hectares, with a water front of approximately 390 metres in length.
Yeo also added: “The shareholder of Jetlee are industry veterans with decades of experience in the marine sector. They will be allotted new shares in Vallianz…This clearly underscores their confidence in the Group’s business and growth prospects.”
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