Tanjung Offshore OSV arm combines with Omni Petromaritime

Tanjung Offshore’s Tanjung Puteri 2. Newer vessels can command higher daily charter and utilisation rates.

TANJUNG Offshore Bhd's burgeoning offshore supply vessel (OSV) arm got a new lease of life this week as one half of Icon Offshore Bhd, putting it one step closer to becoming a key player in the region under its new parent Ekuiti Nasional Bhd (Ekuinas).

Just as noteworthy, however, is the other half in the merger relatively unknown Omni Petromaritime Sdn Bhd, which appeared to have the bargaining chips going by the two times book value Ekuinas paid for the upstart OSV operator versus 1.1 times for Tanjung Offshore's wholly-owned Tanjung Kapal Services Sdn Bhd.