Singapore: Pacific Radiance has entered into a 50:50 joint venture with Daiho Energy Services to co-own the share capital of SDM Marine. The principal activity of SDM is in the owning, chartering and leasing of specifically-designated offshore vessels.

The news follows on from last month’s announcement that Pacific Radiance’s indirect subsidiary, Radiance Offshore Holdings had entered into a joint venture agreement with Norway’s DOT Holdings to own and charter OSVs.