ExxonMobil Extends OSV Charters with Alam Maritim for $23M

Malaysia's Alam Maritim Resources Berhad's wholly-owned subsidiary, Alam Maritim (M) Sdn Bhd, recently received a Letter of Extension from ExxonMobil Exploration and Production Malaysia Inc. (EMEPMI) exercising its option to extend the existing charter party contracts for an accommodation barge/vessel and an anchor handling tug for a total contract sum of approximately $22.96 million (MYR 75.19 million).

Under the contracts, the two-year charter for the accommodation barge/vessel and the unit anchor handling tug will run from Oct. 12 until Oct. 11, 2016.

"The Contracts ... are expected to contribute positively to the earnings and net tangible assets of ALAM for the financial year ending Dec. 31 and beyond," the company said in an announcement on local stock exchange Bursa Malaysia Monday.



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