Esnaad Orders Five New Vessels Worth $60m

Friday, September 22, 2006
Gulfnews has reported that Adnoc subsidiary Esnaad, a marine and supply base services company, has ordered five new vessels from Singapore at a cost of $60m as part of its fleet replacement, a top company official revealed. Darwish A. Al Qubaisi, General Manager, said that the fleet replacement process is ongoing to meet the expansion needs of the company. Esnaad took delivery of two new vessels yesterday, both, anchor handling towing supply vessels built by Singapore-based Otto Engineering at a cost of $24m. Currently, the company owns a fleet of 26 multipurpose vessels and manages nine chartered vessels offering services to major clients, mainly Adnoc companies. The $4.9m contract was awarded last year to ADSB to design and build the crew boat. Source: Gulfnews

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