TAS Offshore Berhad, a Malaysian shipbuilding and ship repair company, announced Tuesday that its wholly-owned subsidiary has clinched contracts for the sale of 2 harbor tugs for approximately $7.92 million (MYR 31.6 million).
The vessels are sold to one of the company's existing customers, with delivered targeted for the last quarter of 2017.
The sale of the harbor tugs is positive news for the company after its subsidiary TA Ventures (L) Ltd. received a termination order in April to build an offshore construction vessel for QMS1 Offshore Services Ltd. for $11.7 million.
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