Singapore’s Kim Heng sells three vessels to Bridgewater Marine
Kim Heng Offshore and Marine of Singapore has sold three of its vessels to Bridgewater Marine, an offshore wind joint venture in Taiwan set up by the company.
The Kim Heng 186, Kim Heng 1860 and Kim Heng 85 steel barge vessels were sold for a combined price of S$3m ($2.26m).
In 2020, Kim Heng formed Bridgewater Marine with local Taiwanese firm Lian Hao, and holds 49% of the group. For Taiwanese offshore wind farm operators, the company primarily provides chartered vessel services.
Kim Heng stated the vessels will provide support for Hung Hua Construction's installation of horizontal directional drilling ducts, and the company will be able to use the vessels to capture other offshore companies in Taiwan.
Maritime Business World