Malaysia's Alam Maritim Resources Berhad announced Tuesday that its wholly-owned subsidiary, Alam Maritim (M) Sdn Bhd, had recently received Letters of Extension from an established oil major confirming its intention to exercise the option to extend the existing charter contracts for 4 utility tugs/vessels and 1 straight supply vessel for a total contract sum of approximately $22.03 million (MYR 70.95 million).
The subsidiary company has accepted the contracts, Alam Maritim said in an announcement on local stock exchange Bursa Malaysia.
The long term charters cover a straight supply vessel for a year beginning in August, while 4 utility tugs/vessels will be chartered for 3 years effective from September.
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