ELPI wins $12.04m three-year Middle East crewboat charter

Indonesian offshore vessel operator PT Pelayaran Nasional Ekalya Purnamasari (ELPI) has secured a three-year charter worth $12.04 million with UAE-based Atlantic Maritime Group for two crewboats assigned to offshore hook-up and transportation activities.

The award commits Kazo Agility 2 and Kazo Agility 3 to offshore support across Saudi Arabia, the United Arab Emirates, Qatar and Bahrain. For ELPI, it locks in three years of charter revenue; for Atlantic Maritime Group, it provides two specialized vessels serving four offshore markets.

For marine-services buyers, the relevant availability is crewboat coverage, not container slots or bulk cargo capacity. The announcement gives a contract value and work footprint, but no charter rate, start date or country-by-country vessel schedule. That leaves $12.04 million as a fleet-level deal figure rather than a verifiable per-vessel daily rate.

What vessels does the charter cover?

PT Orela Shipyard built both vessels. Kazo Agility 2 was delivered in 2024, followed by its sister vessel, Kazo Agility 3, in 2025. The two offshore crew and supply vessels measure approximately 40.3 meters in length.

ELPI reported in September that both vessels were working for Saudi Aramco as the Indonesian operator continued to target additional offshore vessel contracts in the region. The disclosure identifies an end customer separate from Atlantic Maritime Group, the company holding the new three-year charter.

The source does not say when the Atlantic Maritime work begins or whether the Saudi Aramco assignments continue alongside it. Shippers and offshore contractors should therefore treat the four-country coverage as contracted scope, not a published deployment calendar. The two crewboats have demonstrated Middle East operating use, but the announcement does not disclose utilization or revenue mix.

How does the deal fit ELPI's fleet expansion?

The Atlantic charter follows a series of ELPI fleet-expansion initiatives, including the acquisition earlier this year of the multipurpose support vessel Bourbon Evolution 805. Together, the acquisition and charter show the operator adding both asset types and customer commitments in offshore support.

Bourbon Evolution 805 gives ELPI exposure beyond the two 40.3-meter crewboats at the center of the new Middle East deal. The announcement does not assign the multipurpose support vessel to Atlantic Maritime Group, nor does it disclose the acquisition price. ELPI's fleet strategy therefore combines two newly delivered crewboats under a multi-country charter with a separate multipurpose asset.

For forwarders and marine-services customers, the difference is the operating commitment: a three-year charter sets ELPI's deployment of two crewboats against a named counterparty, while the Bourbon acquisition adds a multipurpose vessel without a stated customer or deployment schedule. One contract supplies revenue visibility; the other expands fleet options.

What does the Bintuni Bay agreement add?

ELPI has also secured an 18-year marine services contract worth Rp2.39 trillion, or $131.69 million, for a planned floating LNG development in Bintuni Bay, West Papua. The six-vessel package covers:

• One offshore supply vessel
• Three multipurpose tugs
• One crewboat
• One pilot boat

That mix extends ELPI's service offering beyond crewboat charters into offshore supply, tug and pilot work. The 18-year term anchors revenue around a planned LNG development, while the Atlantic charter supplies a shorter three-year platform in four Middle East markets.

For ELPI, the Bintuni Bay agreement is the larger and longer commitment: $131.69 million over 18 years, compared with $12.04 million over three years for the Middle East crewboats. It also places the operator behind long-duration support for a planned floating LNG project and multi-country crewboat work for a UAE-based charter party.

The announcements leave two execution questions. ELPI must deploy six Bintuni Bay vessels for 18 years and maintain two crewboats for the Middle East charter, while the company continues pursuing additional regional contracts. Neither disclosure provides enough commercial detail to compare expected utilization or operating margins.

Any further Gulf award would show whether ELPI can build on its September work for Saudi Aramco, while the Bintuni Bay package will test its ability to execute a six-vessel, 18-year service program for a planned LNG development.