Malaysian services provider Coastal Contracts has struck a deal to sell one of its offshore support vessels and secured a long-term charter extension for another. The Bursa Malaysia-listed firm is offloading an unnamed OSV via its wholly-owned subsidiaries, Coastal International Marine and Pleasant Engineering, to undisclosed buyers. Meanwhile, the charter extension will see the other unnamed OSV fixed for five years. Coastal said it expects the revenue stream from the latest deals to contribute positively to the earnings of the group for the financial period ending December 31, 2024, and the financial periods after that for the extended charter contract. The company has been cashing in on its diversified and modern offshore assets, with at least three sold last year. It is recognised as a contractor for Petronas, has operations in Mexico, and has two shipyards in Malaysia. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsMalaysia