Singapore: Swissco has secured chartering contracts worth a combined $17.3m for three offshore support vessels (OSVs) in the Middle East.

The two new workboats and one anchor-handling tug supply vessel will be deployed in the Middle East over a three-year period for an existing Swissco client. All three have already commenced their charters.

“The Middle East continues to be a key source of oil for the global economy. Increasing investments into oil exploration and production in the region will have a knock-on effect on the demand for rigs and offshore support vessel services. With our diversified fleet of vessel, we are well-positioned to meet this demand,” said Mr. Sam Kwai Hoong, Chief Financial Officer of Swissco.

Swissco Holdings, an international marine services provider, is listed on the Singapore Exchange Mainboard. [09/10/14]