CATALIST-LISTED Atlantic Navigation Holdings has extended its contract with a Middle Eastern National Oil Company for its lift-boat service by another year to May 2020 from end-June this year, the company announced on Thursday.
The contract, which was awarded for the lift-boat AOS Maintainer I in 2017, came with a one-year charter and two one-year extension options. The NOC, which operates in the Arabian Gulf, had exercised the first one-year extension option last year.Separately, Atlantic Navigation's other lift-boat, Delta 22, was put on contract on May 1 for a six-month charter with a two-month extension option with another NOC, which also operates in the Arabian Gulf.
Atlantic Navigation shares last traded at 10 Singapore cents in December before the counter was suspended for falling below the minimum free float requirement.
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