Singapore's Kim Heng Offshore and Marine, through wholly owned subsidiary Kim Heng Marine and Oilfield (KHMO), has sold three of its vessels to Bridgewater Marine Taiwan (BWMT), a joint venture formed between KHMO and an undisclosed Taiwanese company.
The objects of the transaction are the steel mooring barges Kim Heng 186 and Kim Heng 1860 and the steel flat top deck cargo barge Kim Heng 85. All three were formerly operated by KHMO.
The barges were sold for a total consideration of approximately SG$3 million (US$2.27 million).
BWMT will operate the barges in support of clients in the Taiwanese offshore wind industry. Initially, these will provide support for the installation of horizontal directional drilling conduits by Hung Hua Construction related to the submarine cable installation works for an offshore wind farm project in Taiwan.
