Ezra Collects $47MM in Charter Contracts for 3 Vessels

Ezra has announced new and renewal charter contracts worth US$47 million for three vessels. These two-year contracts, including the extension options require Ezra to charter three anchor, handling, towing and supply vessels (AHTSes) to various parties for operation in Southeast Asia.

Mr. Lionel Lee, Ezra's Managing Director, said, "Our new and renewal charters reflect the still firm demand for offshore support vessels. They also demonstrate our customers' confidence in our services and the quality of the work we provide.

"With our younger and technologically advanced vessels, we are able to meet the stringent demands of the oil companies, offering an integrated package of services to our clients. We expect the contracts to contribute positively to our earnings through FY09," Mr. Lee continued.

In its latest results announcement, Ezra reported a 61% rise in net profit from operating activities to US $24.2 million backed by an 87% increase in turnover. The higher turnover was due mainly to the strong performance of the offshore support and marine services division as well as the contribution from the new energy services division.