Vallianz eyes PSV splurge

Vallianz Holdings has embarked on the first stage of its promised fleet expansion with the acquisition of two PSVs.

The Singapore-based offshore vessel operator said the two Ulstein P128 vessels will be delivered within the next 6 to 12 months.

Vallianz failed to provide any further information on the deal such as vessel prices and the identity of the sellers.

In a separate transaction Vallianz said it planned to acquired an additional ten PX128 vessels, but again no firm details were provided.

However, it did say the 10 PX128 vessels will be jointly developed with Ulstein Asia with strong involvement from Vallianz.

“The Ulstein P128 vessels combine low fuel consumption with high carrying capacity,” said Vallianz chief executive Darren Yeo.

“Embarking on a new small-to-medium PSV market, Ulstein’s design criteria has been to develop a PSV that could support barges and rigs in a more economical way than the traditional offshore support vessel, both in terms of building cost and operational costs,” said Ulstein Asia managing director Gunnar Haug.

“The result is a diesel-electric PSV that will outperform many traditional PSV’s in terms of low fuel oil consumption and high cargo capacity.”

Last month Vallianz said it was currently bidding for up to $1.2bn in projects across Asia, Middle East and Latin America.