Rig Tenders to buy vessel from China

Rig Tenders to buy vessel from China

JAKARTA: Indonesia's PT Rig Tenders said on Friday it plans to
buy an accommodation vessel worth US$7.73 million from a Chinese
company to meet an increase in demand from oil and gas companies
operating in Indonesia.

Rig Tenders, a shipping company and offshore support services
provider, said in a statement that the vessel will be made at
China's Fujian Mawei Shipbuilding Ltd. and have a capacity of 250
people.

The 5,100 metric ton vessel, which is expected to begin
operations in 2004, will be rented to CNOOC, an offshore-China
oil producer, for its Java Sea operations employees'
accommodation and activities, Rig Tenders said.

The company said it currently has three accommodation vessels.
It has 29 vessels, which contribute almost 98% of its total
revenue.

Chuan Hup Holdings Ltd. holds a 49% stake in Rig Tenders.--Dow
Jones