To maintain and enhance its competitive strengths, Swissco plans to continue building strong business relationships with its valued customers and business partners, acquiring quality offshore assets, sourcing for long term charter contracts for its assets and to diversify into business activities complementary to its existing business model.
Over the years, we have developed long-standing relationships with our customers and established a track record of reliable service and good facilities. We have earned the trust of our customers as a result of the integrity of our management, our demonstration of reliability of our services and our ability to support our clients in the provision of key marine support facilities and personalised services. We believe that our business model and well-established interpersonal relationships with customers will not be easily replicated.
Led by industry veterans with deep connections to major oil and gas and marine players, we are able to leverage on our extensive network of suppliers, contractors and customers to secure deals and contracts on favourable terms.
Our dedicated, competent and experienced management team, led by our Executive Chairman Mr Tan Fuh Gih and CEO Mr Alex Yeo, is the driving force behind the Group’s success. Detailed information of the team’s experience can be found under Board of Directors and Key Management sections. To find out more, please click here
Our management team is supported by experienced staff members who include well-trained seafarers and shore-based personnel. Over the years we have developed a team of seafarers who are well-trained and experienced in the operation of the vessels and equipment, and who understand the requirements of our customers. Our shore-based personnel understand the operational requirements and demands of the industry and are adept in meeting the needs of our customers. By recruiting personnel from various countries in this region we acquire local knowledge that comes with these personnel and have a wider pool of skilled human resource to tap from at competitive rates.
Before deployment, we ensure our rigs are refurbished and upgraded to obtain the relevant classification and approvals necessary to meet the requirements and demands of the industry. This enables the rigs to meet the standards of safety, reliability and operational efficiency.
We maintain the quality of our rigs through rigorous maintenance processes and systems. We believe that owning a fleet of well-maintained rigs will enable the Group to secure employment for the rigs with favourable contract terms and contribute to our industry reputation.
In addition, the majority of our rigs are involved in drilling operations in high-demand areas for exploration and production activities, such as in Latin America.
They are also currently chartered out on long-term bareboat charter contracts, which enable the Group to be more resilient to fluctuations in the offshore drilling industry. With a stable, recurring income, we can expand through strategic acquisition of new assets.
The average age of our fleet of offshore support vessels is just over 4 years old. Under this policy we periodically renew our fleet in order to offer to our customers newer and a wider range of vessels that meet the changing needs as well as keep pace with the operational requirements of the offshore oil and gas industry. As a result of this fleet renewal policy, we are able to enter the higher value-added sector of the business.
In the OPL sector of our business we have been able to remain competitive despite the increased competition. We have been able to retain the business of our customers and secure new businesses as we provide value-added services to our customers, including warehousing and our private wharf facility fully equipped with material handling equipment and machinery such as lifting cranes.
Our ship repair and maintenance yard is able to compete against similar facilities based in the lower cost locations, because of our higher work productivity due to our workers' skills and competence. In addition we render value-added services such as technical advice to customers on compliance with certification requirements and extending the seaworthiness of their vessels.
We have assets in terms of land-based facilities and a diversified fleet of rigs and vessels that enable us to deploy them cost effectively to optimise their utilisation and to meet customers' requirements. We have the capability and flexibility to deploy our assets on an urgent or unexpected basis without disrupting our normal business operations.