Perdana Petroleum embarks on fleet renewal programme with AHTS vessel order

The Malaysian company has entered into contracts with China’s Aulong Shipbuilding for the construction of the vessels, and said it was doing so amid improving conditions in the offshore support vessel market. The 61.8-m vessels will be classed by RINA.

Construction of the vessels will be funded through a combination of internal funds and bank borrowing. The newbuilds are due to be delivered in the third and fourth quarters of FY 2028 and are intended primarily for deployment within Malaysia’s domestic, and regional oil and gas markets.

Perdana Petroleum managing director Jamalludin Obeng said construction of the vessels is an important milestone for the company, particularly as it last invested in newbuilds in 2012.

“Against the backdrop of improved market conditions, we believe this is the right time to modernise and progressively rejuvenate our fleet,” he said, “ensuring that we remain well-placed to support future operational requirements, enhance competitiveness and sustain long-term business growth.”

The company’s managing director said the offshore support vessel market “continues to show encouraging recovery momentum, supported by sustained upstream activity, improved industry fundamentals, stable utilisation levels and firmer charter rates across selected vessel categories.”

When the company announced Q1 2026 results in May 2026, it said its performance in the quarter “reflected a mixed and transitional start to the year, supported by improved utilisation in the AHTS segment which was partially offset by lower utilisation in the accommodation work barge segment, due to delays and postponements of selected projects.”

The company said that, although 2026 began at a measured pace, it remains optimistic that utilisation levels will improve as offshore activity gradually strengthens.

Mr Obeng said the operating environment “remains influenced by project timing, contract awards, cost inflation and broader geopolitical developments.” He described conditions in the domestic OSV market as “cautiously positive,” underpinned by Petronas’ upstream activity and ongoing offshore maintenance campaigns.

“Market conditions have also reflected firmer charter rates, steady tender activity and improving utilisation across selected vessel categories,” he concluded. “In addition, the limited pace of new vessel deliveries and tighter regional vessel supply are expected to continue supporting utilisation and charter rates.”