Coastal Contracts Sells Two Offshore Support Vessels for $65M

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Malaysian offshore vessel services firm Coastal Contracts said Tuesday its subsidiaries had secured contracts for the sales of two offshore support vessels for an aggregate value of approximately RM287.3 million (currently around $65,2 million).

"The revenue stream from the latest contracts is expected to contribute significantly to the earnings of the group for the financial year ending 30 June 2023," Coastal Contracts said.

The company did not say who the clients were or which vessels had been sold.