November 26, 2014 11:24 AM ET

Energy Equipment and Services

Company Overview of Miclyn Express Offshore Limited

Company Overview

Miclyn Express Offshore Limited, an investment holding company, provides service vessels primarily to the offshore oil and gas industry in Asia, Australia, the Middle East, Africa, and international waters. The company charters a range of offshore support vessels, crew/utility vessels, tugs, barges, and coastal survey vessels to a range of customers operating in various phases of the offshore oil and gas cycle, including exploration, development, and production, as well as to project transportation and the marine civil construction industry. Its Offshore Support Vessels segment provides transportation and various support services across the entire offshore oil and gas cycle. The company’s Cr...

3 HarbourFront Place

No. 11-01/04 HarbourFront Tower 2

Singapore,  099254


Founded in 2005


65 6545 6211


65 6275 6212

Key Executives for Miclyn Express Offshore Limited

Chief Executive Officer and Executive Director
Age: 60
Chief Financial Officer
Chief Operating Officer
Age: 43
Group Risk Manager
Deputy Chief Executive Officer
Age: 52
Compensation as of Fiscal Year 2014.

Miclyn Express Offshore Limited Key Developments

Miclyn Express Offshore Limited Reports Audited Consolidated Earnings Results for the Year Ended June 30, 2014

Miclyn Express Offshore Limited reported audited consolidated earnings results for the year ended June 30, 2014. For the period, the company reported revenue of $244,497,000 against $231,897,000 a year ago. Profit before tax was $54,936,000 against $50,118,000 a year ago. Net profit attributable to owners of the company was $47,811,000 against $46,413,000 a year ago. Net cash generated from operating activities was $59,162,000 against $58,767,000 a year ago. Payments for property, plant and equipment was $26,039,000 against $6,455,000 a year ago. EBITDA was $95.1 million against $76.0 million a year ago. EBIT was $67.9 million against $53.4 million a year ago. Normalised EBITDA was $101.0 million against $89.2 million a year ago. Operating EBITDA was $100.3 million. Net debt was $373.8 million against $199.3 million a year ago. Normalised operating EBITDA was $99.5 million against $87.6 million a year ago.

Miclyn Express Offshore Wins Three Contracts from Chevron Corporation

Miclyn Express Offshore, or MEO has won three contracts from Chevron Corporation, each for a duration of four years plus 3x1 year extension options, to provide anchor handling tug supply, or AHTS, services through MEO's joint venture, Uniwise Offshore, in Thailand. The contracted vessels include two 7145 BHP, 90TBP AHTS newbuilds that are being delivered from China in August and September 2014 respectively.

Miclyn Express Offshore Appoints Venkatraman Sheshashayee as Deputy Chief Executive Officer, Effective October 1

Miclyn Express Offshore announced that it has appointed Venkatraman Sheshashayee as deputy chief executive officer effective October 1. The industry veteran who led Jaya through a business transformation also held a senior management role at Greatship Global Offshore Services, which is part of the Greatship Group.

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May 22, 2014

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