Buy Pacific Radiance 4.30% 29 August 2018
Pacific Radiance Ltd (PRL) is one of the leading regional offshore support vessel (OSV) owners with a
fleet size of over 130 vessels (directly owned or owned under JV structure). The company is engaged
in the following principal businesses: offshore support services business, subsea business and other
complementary businesses.
Why You Should Buy
• Pacific Radiance Ltd (PRL) owns a diverse and modern fleet of vessels with young average age.
The firm directly owns and operates a total of 56 offshore vessels which are chartered out (directly
or indirectly) to various IOCs and NOCs, international oil and gas contractors and international
seismic companies.
• It also has access to another fleet of 75 offshore vessels, which it jointly owns with its associated
companies to penetrate high growth, cabotage protected markets in Indonesia and Malaysia. The
fleet is young compared to the industry average, and helps the company achieve higher
efficiencies, reduce operating costs and better fulfil customers’ requirements.
• PRL has strong global customer base and maintains strong business relationships with its
customers, some of which have engaged the company on multiple occasions for services. Its
customers include international oil companies and national oil companies such as BG Group,
TOTAL, Pertamina, Shell and Petrobras, as well as international oil and gas contractors.
• According to PRL, the company has partnered with Alam Maritime Resources Bhd in Malaysia and
PT Jawa and Pt Loginda in Indonesia to access these cabotage-protected markets, whereby its
associated companies can acquire vessels available from its existing fleet on a “need basis”.
• PRL’s senior management team has more than 20 years’ experience in the offshore marine
industry with strong customer relationships as well as third party shipyards.
Source : OCBC Banking.