THEY HAVE STARTED coming.
Vessels were seen berthed at Technics Offshore's jetty in Loyang this week for a wide range of services from Technics Offshore, a subsidiary of Technics Oil & Gas.
In the picture above, a massive crane has finished its work for the owners of a platform support vessel.
In the picture on the right, the same vessel's anchor system can be seen to be under repair by workers on a scaffolding set-up.
The 87-m long vessel is scheduled to be requiring work and services over three weeks that would bring in at least $100,000 in revenue for Technics, said Technics chairman Robin Ting.
As we have reported previously, the revenue and profit potentially could run into millions of dollars a year. (See: TECHNICS OIL & GAS: 'Cash-cow' business ready for takeoff)
This is very much a service business that could prove to be a cashcow.
The beauty of its location is that there is only one other similar jetty operations in this part of Singapore where demand for services is high, especially from clients whose offices are in the vicinity.
The competitor's jetty capacity, though bigger, does not provide for vessel repair services.
Technics' jetty and related infrastructure, as well as deep-water dredging for a draft (minimum depth of water a vessel can safely navigate) of 6.6 metres, was completed this year after 3 years and at a cost totalling nearly S$20 million.
It's a new revenue stream to boost Technics' core business of being a full service integrator of compression systems and process modules in the oil and gas industry.