TAS Offshore wins US$9M newbuild tug orders

TAS Offshore Berhad of Malaysia has won contracts to build six tugboats for Indonesian owners with a combined value of RM38M (US$9.0M) and delivery in its 2026 financial year.

Its shipbuilding subsidiary will build these vessels for two new customers from Indonesia as demand for barge towage and manoeuvring increases in the nation.

TAS said “revenue generated from the contracts is expected to contribute positively to the earnings and net assets of TAS Group for the financial year ending 31 May 2026.”

These newbuilding orders were announced on the stock exchange in Malaysia by the board of directors on 5 May 2025, when they also confirmed none of the directors or major shareholders of TAS, or persons connected to them, have any interest, direct or indirect, in the contracts.

This group has experience building newbuild tug series, and has also constucted anchor-handling tugs and offshore support vessels of less than 70 m in length.

In October 2024, TAS announced it won contracts with a combined value of RM49M (US$11.6M) from new Indonesian clients.

These vessels are scheduled for delivery in Q2 2025 and the revenue generated from the contracts is expected to contribute positively to the earnings during the financial year ending 31 May 2025.