Pacific Radiance secures $75m in contracts from repeat clients

Singapore-listed Pacific Radiance, which provides integrated offshore marine services, has clinched US$59 million (S$75 million) in charter contracts with repeat clients, the group said on Monday.

The latest wins involve vessels ranging from tugs and barges to anchor handling tugs, as well as anchor handling tug supply vessels and a specialised saturation diving support vessel.

The group also won a long-term contract for its floating storage and offloading vessel to undertake an assignment in the region.

"The diversity of our fleet gives us a distinctive competitive edge in our market segment as clients prefer service providers who are able to offer more than one vessel type, as they seek to cover a broad spectrum of needs," said Mr James Pang, Pacific Radiance's managing director of commercial and business development.

The Group currently owns and operates a fleet of more than 130 offshore support vessels.