20 June 2012 - Malaysia-based international offshore oil field services provider, Bumi Armada Berhad ("Bumi Armada"), announced today its newbuild programme, 'Steel on Water 2' with the issuance of a Letter of Intent ("LOI") for four Multi-Purpose Platform Support Vessels ("MPSV"), with an option to build four additional units.
This newbuild programme follows fast on the heels of the company's 'Steel on Water 1 Programme' of 20 newbuilds which were all successfully delivered by 2010.
The LOI was issued by Bumi Armada Bhd, to Nam Cheong Dockyard Sdn Bhd for the construction of the first four units of diesel-electric, DP2 MPSVs. The four MPSVs will cost approximately USD 130 million (excluding owner furnished equipment) and are expected to be delivered in the second quarter of 2014.
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