Alam Maritim to buy RM81mil OSV as subsea business expands
KUALA LUMPUR: Alam Maritim Resources Bhd plans to acquire a newly built offshore support vessel (OSV) for US$19.8 million (RM80.8 million) to expand its subsea operations and support its RM1.55 billion order book.
KUALA LUMPUR: Alam Maritim Resources Bhd is set to purchase a newly constructed offshore support vessel (OSV) worth US$19.8 million, or RM80.8 million, to bolster its subsea operations and bolster its RM1.55 billion order book. The potential acquisition is being negotiated through subsidiary Alam Maritim (M) Sdn Bhd (AMSB), which signed a vessel purchase option agreement with Singapore-based Poet Shipbuilding & Engineering Pte Ltd on Dec 1, 2025.
After initially expiring on July 31, 2026, the option was extended twice and is now valid until Oct 31, 2026. The board of Alam Maritim intends to exercise the option, pending shareholder approval at an extraordinary general meeting. The 65-meter vessel will feature accommodation for 80 people, a deck cargo capacity of approximately 300 tonnes, and crane capabilities.
It will be equipped with two 1,678-kilowatt main engines and classified by the American Bureau of Shipping. The vessel will be used for subsea engineering services, such as remotely operated vehicle and saturation diving operations. Post-acquisition, Alam Maritim will operate a total of five OSVs, four of which are currently under bareboat or time charter, strengthening its position in the subsea services segment.
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