Marine Link
Wednesday, August 22, 2018

Jaya Secures Contracts of Approximately US$84 Million

Maritime Activity Reports, Inc.

July 13, 2012

Jaya Holdings Limited (“JAYA”) has announced that it has, through its wholly owned subsidiary, Jaya Shipbuilding and Engineering Pte Ltd, secured ship building contracts of approximately US$84 million to deliver a 5,150 bhp Anchor Handling Tug and Supply Vessel (“AHTSV”) and a 16,000 bhp AHTSV.


The 16,000 bhp AHTSV, one of the largest vessels to be built by JAYA, is constructed and designed for offshore support and is capable of oil rig towing, oil rig positioning and anchor handling, offshore oilfield supply, stand by rescue, and iceberg towing/ice management. The state of the art vessel is Ice Class 1A; giving it the ability to navigate in moderate level ice conditions and northern regions. The vessel has also been designed to Norwegian Maritime Directorate standards (highest in world for offshore vessels) and carries the Clean Design (CD) designation from Det Norske Veritas (DNV classification society).


Prior to this, the Group announced in May 2012 that it has won seven term charter contracts amounting to US$108.4 million, for five of its AHTSVs, and two of its ROV Support Vessels (“ROVSVs”). Commented Mr Venkatraman Sheshashayee, Chief Executive Officer and Executive Director of JAYA, “Despite the volatility in the global financial markets, Jaya is pleased to be able to secure new contracts and continue to win charters. This attests to the Group’s ability to deliver offshore solutions to the offshore oil and gas exploration and production (“E&P”) domain”. With the new contract wins, key strategies in place, and rising E&P spending, JAYA is well positioned to ride on the OSV cycle upturn when it happens.

Maritime Reporter Magazine Cover Aug 2018 - The Shipyard Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News