Miclyn Express Offshore (ASX:MIO) (“MEO” or “the Company”) is pleased to announce that it has entered into an agreement with Dredging International (Australia) Pty Ltd to supply an AHTS, MEO Sovereign 1, for the Chevron-operated Wheatstone Project in Western Australia. The contract will commence in May 2013 for 2 years firm.
MEO is also pleased to announce that it’s 70% owned business, Express Offshore Solutions (“EOS”), has secured a contract with Heerema Marine Contractors Nederland B.V. to provide Barges to transport project cargo from South East Asia to Australia for the Ichthys project. The project duration is approximately 1 year and will utilise 11 Barges including all of MEO’s 330 foot Barges as well as the pair of 400 foot Ballastable Barges currently under construction in MEO’s Batam Shipyard. The contract is anticipated to commence in the second quarter of calendar year 2014.
The total aggregate value of the firm period of the contracts disclosed above is approximately US$40 million.
MIO Price at posting:
$1.97 Sentiment: None Disclosure: Not Held
