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Aztech Group buys shipyard from AZ Marine Offshore Services

Staff writer |
Aztech Group has acquired the leasehold interest of a shipyard at 15D Pandan Road, Singapore 609266 through the acquisition of 100% of the shares via AZ Marine Offshore Services Pte Ltd.

The shipyard is occupying a site area of approximately 251,500 square feet and water frontage of approximately 2,475 feet. The acquisition is in line with the overall strategy of the Group to strengthen its core marine logistics capability, as well as expand its ship repair and maintenance capacity.

Established in 2008, AZ Marine is a fast growing and dynamic offshore and marine company providing a wide range of marine services including ship management, vessel agency, ship chandling and ship brokerage services. It owns a fleet of 11 tugs, 9 barges, 2 self-propelled conveyor barges, 2 mooring boats and 1 passenger launch boat.

The acquisition of this large waterfront and yard facilities will strengthen AZ Marine's vessel repair and maintenance works capability, allowing it to further develop its marine logistics business and expand into third-party repair, refurbishment and retrofitting works of vessels. With in-house machining workshop in the Shipyard, the company will be able to shorten the machining lead time and provide better turnaround time for vessel repairing.

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