Reported in the latest OSJ that Miclyn Express Offshore has sold an accommodation work barge to a Malaysian company for USD 3.7 million. Based on my sources I believe the Malaysian party mentioned is CNN System. The same company also committed to charter Miclyn's 8,200 bhp AHT Magellan I (which is under construction) for a duration of two years + 2 years option.
To everyone surprise in 2009 a new company known as CNN System have been awarded long term contract to provide marine spread for top side maintenance. Till now everyone wonder who is behind them which gave them the advantage to won the contract which left seasoned player in that sector scratching their head.
Well, maybe at that time CNN have been seen as favoured by certain quarters, but at least they have prove their commitment to buy ship and become serious player now. We should be happy to welcome another serious offshore player in our industry.
All the best CNN!!
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