Vahana Offshore currently owns and operates a completed liftboat named Vahana Aryan. Meanwhile, VMS has entered into long-term charter contracts with Zamil Offshore for the charter of Vahana Aryan and Vahana Arjun to work in Saudi Aramco projects. According to the media, the five-year charter contracts start in June 2020 for Vahana Aryan and June 2021 for Vahana Arjun. Key information such as the offer price, Vahana Offshore’s financial performance, the liftboats’ charter rates and the term sheet for the RCPS were undisclosed in yesterday’s announcement. Subject to the offer price, we are mildly positive about the offer.

Source: The Edge Markets February 12, 2020 02:37 UTC