Jaya inks second offshore deal with Atlantic Towing

It'll deliver vessel by end-2013.

In a release, Jaya Holdings Limited, announces it has reached an agreement to sell a second new state-of-the-art anchor handling tug supply vessel Jaya Sovereign to Canadian buyers, Atlantic Towing Limited. The vessel’s delivery is expected by the end of 2013. 

The Jaya Sovereign is a sister ship of the Jaya Supreme which was delivered to Atlantic Towing in November of last year. Both vessels are among the most
sophisticated anchor handlers ever built at a Singapore shipyard.

In announcing the sale today, Jaya said Atlantic Towing’s decision to acquire the sister ship was due to the high quality performance of the Jaya Supreme (renamed the Atlantic Kestrel) since the company took delivery of the vessel as well as the on-going demand for higher Ice Class vessels for work in Arctic waters.

Atlantic Towing Vice President Wayne Power said: “We have been very pleased with all aspects of the performance of the Atlantic Kestrel since it’s delivery including the vessel specification, operation and the workmanship. We are sure the acquisition of the Atlantic Merlin (Jaya Sovereign) will prove to be just as successful and we look forward to receiving and operating another excellent vessel.”

Jaya Holdings Chief Executive Officer, Venkatraman Shesheshayee said, “The sale of the Jaya Sovereign underlines our ability to deliver high quality vessels to customers at prices which reflect value as well as our unstinting focus on high quality workmanship.

This is a repeat order for a vessel which is among the most sophisticated ever built for the offshore sector here in Singapore.

“The sale of Jaya Sovereign again shows that Jaya leads the field in building this kind of high value, high specification vessel at prices which our customers find attractive.”

He added that huge interest in Arctic Sea drilling means demand for “Jaya Sovereign” type vessels was rising. A recent licensing of 35 million acres of Russian Arctic to a Russian and international joint venture meant drilling was anticipated annually through to 2020 on a seasonal basis.

Leading international oil companies are planning programmes off Greenland in 2014 and 2015 as well, he said.

“Jaya is one of few shipbuilders in Asia to have built ice class anchor handlers and is happy to take new building orders from interested owners looking to capitalise on the surge in drilling activity,” he noted.