| Chennai, 18 October
2006: Sical Logistics Ltd today announced that
Bergen Offshore Logistics Pte Ltd, Sical’s wholly-owned
subsidiary based in Singapore, has acquired a latest
generation specialty 470 MKII class platform supply
vessel (PSV) for USD 31.3 million. All legal formalities
of the sale have been completed and the delivery of
vessel taken by Bergen Offshore from Aker Yards in Molde,
Norway.
A PSV provides offshore logistics such as supplies
and cargo transport for deepwater offshore drilling.
The acquisition of Siem Mollie, acquired from Siem
Mollie SA, Norway, is the first acquisition of a new
build offshore PSV by an Indian company. Post the acquisition,
the PSV has been renamed Sical Torino.
Sical Torino would be deployed in the North Sea where
such vessels are in large demand owing to the surge
of deepwater drilling in recent years. Sical’s
existing offshore logistics business operates and manages
15 offshore supply vessels for India’s leading
energy exploration company, ONGC Ltd.
Built in Norway in 2006, the 73.4 m long, 3570 tonne
dead weight vessel is registered under the Singapore
flag. The PSV is built to top international specifications
including a well deck for maximum protection for cargo
and crew.
Sical Torino’s cutting edge features include:
- the latest Dynamic Positioning 2 system, which enables
the best of performance and stability even in rough
sea conditions;
- the ability to carry methanol—worldwide, few
PSVs can do so;
deck space of 700 sq m;
- the ability to carry bulk cargoes used by new generation
deepwater platforms.
Sical Vice Chairman Ashwin Muthiah said that the purchase of Siem Mollie by
Bergen Offshore, close on the heels of Bergen Offshore’s
acquisition by Sical Logistics in end September 2006,
clearly indicates that offshore logistics is a top strategic
priority at Sical.
“The surge in demand for oil and gas has led
to a sharp increase in deepwater drilling, and, consequently,
the demand globally for specialized high capability
platform vessels for deepwater offshore logistics,”
Mr Muthiah said. “On performance, features, and
safety, the MKII is built to the latest specifications
and is perfectly suited for the harsh and demanding
North Sea waters. We see the Sical Torino as a significant
strategic addition to Sical’s arsenal for offshore
logistics,” he added.
About Sical Logistics
Sical Logistics Ltd is India’s leading provider
of integrated multi-modal logistics for bulk and containerized
cargo-port logistics; inland transportation and warehousing;
container stations; and offshore supplies logistics.
Sical's delivery network includes an exclusive walk-in
berth at Chennai for ships carrying bulk cargo; a container
terminal at Tuticorin, 1.9 million square feet of storage
across 104 warehouses; owned and regularly contracted
fleet of over 2400 transport vehicles, and container
freight stations at 4 locations across India. Sical's
FY2005-06 revenue was Rs 9.60 billion on Rs 301.9 equity
capital.
News media contact
Anuradha Altekar,Ubiquus
anuradha@ubiquus.biz
+91.9870100642 |
