JANUARY 27, 2014 — Singapore's ASL Marine Holdings and Miclyn Express Offshore (MEO) — along with their respective Indonesian shipbuilding subsidiaries – have reached an agreement that will see ASL acquire MEO's Batam, Indonesia, shipyard for US$20.0 million.
The MEO shipyard is adjacent to the ASL's existing shipyard in Batam. It is situated in a free trade zone with industrial areas designated specifically for shipyards with infrastructure such as roads, telecommunications, utilities and supporting services. The sale assets comprise a site of 12.2 hectares with berthing / repair quays of 220 meters, two shiprepair slip / launch-ways and shipyard facilities (office building, fabrication shop, and machineries) which cater for shipbuilding, vessels repair, modification and mobilisation, as well as modular fabrication services.
MEO has used the shipyard to build, convert and customize vessels as well as service its South East Asian based fleet and other third party vessels when spare capacity existed.
MEO is disposing of the shipyard in order to focus on its core vessel chartering business.