Vallianz secures Batam shipyard to expand Asia Pacific operations

Submitted by Paddy Harris on Tue, 2014-09-23 09:21

23rd September 2014

Vallianz Holdings has announced that its wholly-owned subsidiary Vallianz Shipbuilding & Engineering (VSE) has entered into a conditional sales and purchase agreement (SPA) to acquire a shipyard facility in Batam, Indonesia for USD 15.8m establish its own marine base

Vallianz secures Batam shipyard to expand Asia Pacific operations

PTUSP owns a fabrication and engineering shipyard located at Kabil, Nongsa, Batam City, Kepulauan Riau Province, Indonesia

“With direct ownership in a shipyard facility, Vallianz will have its own marine base to dock and carry out maintenance operations for our vessels and third-party vessels that are managed by the group,” said Darren Yeo, said Vallianz CEO. “As we continue with our fleet expansion programme, we expect to reap greater cost savings and operating efficiencies from having our own marine base as compared to leasing third-party shipyards.”

Pursuant to the SPA, VSE will acquire the entire share capital of Singapore-incorporated Jetlee Shipbuilding & Engineering Pte Ltd (Jetlee) and its 99 per cent owned Indonesian entity PT United Sindo Perkasa (PTUSP).

PTUSP owns a fabrication and engineering shipyard located at Kabil, Nongsa, Batam City, Kepulauan Riau Province, Indonesia, which occupies a land area of about 8.8 hectares with a water front of about 390 metres in length.