ASL Marine announces new contract wins amid assisting investigations involving a fire that caused thirteen deaths at its Batam Shipyard on Oct 15.
On Oct 15 around 4.20am, the group’s subsidiary’s shipyard in Batam experienced a fire. The incident occurred on board a tanker that was undergoing afloat repair alongside the shipyard’s jetties.
It resulted in thirteen dead, and eighteen injuries among workers who were working onboard the tanker. All work onboard the tanker has been suspended, the group says.
ASL Marine is currently assisting the government authorities in conducting the investigation to establish the cause of the incident, and concurrently undertaking a review of its safety management procedures, it says.
Meanwhile, the board of directors of the company announced that its wholly-owned subsidiary ASL Offshore & Marine has been awarded new ship chartering contracts with an aggregate value of $82 million.
These contracts span over two years. The ship chartering contracts, which comprise tugs, work boats, crane barges, cargo barges, hopper barges and grab dredgers, will support customers involved in marine infrastructure projects in Singapore.
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The group has also signed vessel sale contracts of $55 million as part of its fleet optimisation program and broader asset divestment strategy to accelerate its deleveraging efforts and streamline its fleet portfolio. ASL Marine says that it expects these contracts to contribute to its revenue performance over the next two years.
Shares in ASL Marine closed 0.5 cents higher or 2.381% up at 21.5 cents on Oct 27.
