Pacific Radiance Nearly Doubles Profit Margin

Singapore-based offshore marine service provider Pacific Radiance Ltd. reported today an extremely strong start of the year with net attributable profits up 110% to USD $17.8 million as compared to last year.  With strong results from their two saturation diving vessels over the past few months, gross profit margins were launched upwards to 41 percent as compared to 22 percent … [Read more...]

Pacific Radiance Group Orders Pair of Ulstein X-Bows

Ulstein announced today that Singapore-based OSV operator, Pacific Radiance Group, has ordered the building of two platform supply vessels of their PX121 design at an undisclosed Chinese yard.  The vessels are estimated for deliveries in Q2 and Q3 2015 and the contract includes options for two more vessels. The Pacific Radiance Group is currently managing over 120 vessels … [Read more...]