Australian shipowner MMA Offshore looks set to net up to AUD 60m ($45.9m) from two charter contracts in New Zealand and Australia.
The company has secured a three-year contract from OMV New Zealand for its 8,000-bhp anchor handling tug supply vessel MMA Vision (built 2009) to provide field support duties for the Maari and Maui gas fields in the Taranaki Basin.
The Singapore-flagged anchor handler will be based in New Plymouth, New Zealand, for the duration of the contract, which includes a further two one-year option periods.
The company has also secured a two-year contract extension with INPEX for its platform supply vessel MMA Plover (built 2015) to continue to provide drilling rig support services for the Ichthys field in Australia’s North West.
MMA Offshore said the two vessel contracts amount to a combined value of AUD 44m for the contract firm periods and a potential value in excess of AUD 60m if the relevant option periods are exercised.
The company also announced that it was awarded a contract to complete site investigation survey works for an offshore wind farm development in Taiwan.
MMA Offshore said it will use two third-party chartered vessels to undertake geophysical and visual surveys, which are due to start in July 2021 and conclude in September.
“We are very pleased to announce these contract awards, which support our growth and diversification strategy,” MMA Offshore managing director David Ross said.
“Expanding our operational portfolio into New Zealand is a key step for MMA and we look forward to supporting OMV on this contract, as well as expanding our footprint within the New Zealand region as further opportunities arise.”
Ross said the award of a further offshore wind survey scope and its second HIPP hydrographic survey project are “strategically important to the execution of our diversification strategy”.
Separately, MMA Offshore confirmed that it has recently completed the sale of three vessels for a total of around AUD 5m and is in the late stages of negotiating the sale of a fourth vessel.
The vessels sold are smaller AHTS units that were laid up prior to sale. Proceeds from the asset sales will be used to pay down debt.
“We are continually looking to sensibly sell down non-core assets in a controlled manner to preserve value where possible,” Ross said.
“In the past months, we have sold three vessels which have been in lay-up for an extended period, with the sales assisting to reduce holding costs and reduce our debt.”
