Investment holding company Swire Pacific will spend US$1.2 billion over the next few years buying more than 20 new offshore support vessels to expand and upgrade its existing fleet of 77 ships.
John Rae-Smith, executive director of Swire Pacific Offshore, said the investment in larger, more powerful and capable ships reflected the move by energy companies to explore for oil and gas in more hostile and challenging environments, including deep water.
'We are building the fleet to go chasing the explorers,' he said, pointing out that Swire Offshore, which is among the top six offshore shipping firms in the world, operates in 50 countries including Brazil, Australia and West African nations.
The vessels include 21 that have already been ordered from shipyards in Japan, Singapore and South Korea.
They also include a sister vessel to the Pacific Champion, a 16,300 brake horsepower anchor-handling tug-supply ship, that was delivered last year by South Korea's Sekwang Heavy Industries. The Rolls Royce-designed vessel was the first ever ship to be christened in Hong Kong by Swire Pacific Offshore.
The other vessels on order included eight deepwater anchor handling tugs being built in Singapore for delivery between next year and the end of 2014, Rae-Smith said yesterday.