C20 Holdings Signs WMV Charter Contract
C20 Holdings announced that ValueRight International, a wholly-owned subsidiary of Hadi International Marine Services, the Company’s associated company, has entered into a charter contract for the charter of a Work cum Maintenance Vessel (WMV) to Hadi Hamad Al-Hammam Establishment, which is based in Saudi Arabia. Under the terms of the charter contract, the WMV will be deployed in the Middle East. The charter is for a period of three years, with options to extend for two further periods of one year each and will commence at the end of 2009. The charter hire will amount to approximately US$4.86m for the initial charter period of three years.