Term utilisation in Asia-Pacific region remains low and is weakening, with the rise of pandemic cases in the region leading to further uncertainty. However, demand for supply vessels is expected to rise with offshore exploration and development projects that are currently scheduled to commence in the remainder of the year and in early 2021. In Indonesia, Premier Oil is seeking one AHTS and one PSV to support its drilling operations in the Natuna Sea. The drilling campaign is scheduled to start in second quarter 2021 and the contracts have durations of 120 days, to cover two wells with additional three wells. Meanwhile, Philippines National Oil Company (PNOC) is planning to kick-start its offshore exploration in 2021, after the exploration moratorium has been lifted in October. The moratorium was forced due to the territorial disputes with China. Total supply of Anchor Handling Tug Supply vessels (AHTS) in the region has reduced a little, with the disposal of a few vessels and some vessels moving out from the region. In Singapore, CH Offshore has sold two AHTS for a total amount of USD 1.65 million but has refused to disclose which vessels are covered by the sale. Earlier in August, the company had sold Garnet 5,400 bhp AHTS to an Indian company, for a total of USD 0.9 million. The disposals are in line with the company's fleet management and renewal strategy to lower the average age and improve the vessel specification of the fleet.
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