MMA wins another contract

Marine services supplier MMA Offshore has notched two contracts worth $12 million to provide liquefied natural gas field support.

MMA’s platform supply vessel MMA Inscription will be engaged for 220 days to provide LNG field support duties in Australia’s North West.

The $12.4 million contract, with an additional option for $4.9 million, will commence mid-September.

“We are extremely pleased to announce these contract awards for the MMA Inscription adding to our backlog of contracted revenue for FY24,” managing director David Ross said.

“It is encouraging to see rates and contract terms improving for high quality, well maintained and operated platform supply vessels in the current market.”

It comes after MMA was selected by CSIRO to manage a research vessel in a contract anticipated to generate $80 million in revenue over four years.

As part of the contract, MMA Offshore is set to provide technical services, operational management and crew management for CSIRO’s research vessel Investigator.

MMA’s shares were trading up 3.75 per cent to $1.38 at market close.