Ezra Inks $104MM in Southeast Asian Charters for 4 AHTS Vessels

Ezra Holdings Ltd.

Ezra Holdings announced US $104 million worth of term charter contracts for four Anchor Handling, Towing and Supply vessels (AHTS).

Under the contracts, which comprise both new and renewal charters, Ezra will charter the AHTS to various parties for operation in Southeast Asia for periods ranging from one to seven years, inclusive of extension options.

Said Ezra's Managing Director, Lionel Lee, "Our renewal charters are enjoying 10-15% higher average rates and reflect the firm demand for offshore support services in the oil & gas sector, particularly for better equipped vessels such as ours.

"Our leading position in Asia positions Ezra well to benefit from the continued high level of exploration and production activities in the region, especially in the Southeast Asia. We expect the contracts to contribute positively to our bottomline from FY09."

As a leading integrated provider of offshore support services, Ezra is committed to its fleet expansion program. Among Asia’s first to focus on deepwater capable support vessels, the Group will take delivery of one large AHTS and five ultra-deepwater Multi-Functional Support Vessels (27,000 and 30,000 brake horsepower) in the next 24 months. Also joining Ezra's diversified fleet are two self-propelled jackup rigs and an ultra-large pipelay accommodation, well service and maintenance vessel.