History & Milestones

History

Swissco’s roots began in the marine supply business when Sea Well Industrial and Ship Supply Company was established in 1970. "SWISSCO" is the acronym for "Sea Well Industrial and Ship Supply Company".

As ship chandlers in the early years, Swissco provided commercial ocean-going ships calling at the Port of Singapore with supplies ranging from ship spares, stores, and provisions to other consumable goods. It hired third-party boats to convey supplies or officers and/or crew of its customers to their oceangoing ships. To achieve better operational control and efficiency, Swissco acquired its first OPL boat in 1973. Seeing the growth of oil drilling activities in the region, Swissco started to extend its marine supply services to oil rigs and platforms.

Swissco Offshore was incorporated in 1975 to assume the growing business of marine logistics in operating OPL boats. In the 1980s, Swissco discontinued its ship chandling business to focus on the more profitable marine logistics business. In 1990, it acquired its first offshore supply tug to expand into the regional oil and gas industry. Over the next decade, Swissco scaled up the value chain with newer and larger specialized offshore vessels, and in 2004, was admitted to Sesdaq as Swissco International Limited. When C2O Holdings Limited acquired Swissco International Limited in 2010, the Group changed its name to the current Swissco Holdings Limited.

In 2013, it was upgraded to the SGX Mainboard.

Key Milestones

2004

  • C2O Holdings Limited was incorporated and was listed on SGX-Sesdaq.

2008

  • Ventured into offshore vessel chartering and marine logistics and support services.
  • Joint Venture with Hadi H. Al Hammam and TK Rajgopal, setting up Hadi International Marine Services Pte Ltd (“HIMS”).

2009

  • Valueright International Limited acquired two utility cum crew boats.
  • Completed disposal of distribution business.

2010

  • Expanded fleets with USD13 million order for 2 new vessels.
  • Completed acquisition of Swissco International Limited.
  • Changed name to Swissco Holdings Limited. Moved to 60 Penjuru Lane.

2011

  • Upgraded fleet composition with new building program which included AHTS above 5000BHP.
  • Strengthened team for maritime services as well as ship-repair segments.

2012

  • Took delivery of Anchor Handling Tug, Swissco Jade, a 5150 BHP AHT, in January 2012.
  • Upgraded fleet composition with new building program which included AHTS with BHP ranging from 6400 – 7200 with DP.

2013

  • Took delivery of Swissco Amber and Swissco Neptune, both DP vessels.
  • Delivery of crew boat that accommodates up to 70 pax

2014

  • Entered the rig business with the acquisition of Scott and English Energy
  • Acquired five additional rigs, bringing total to nine.
  • Acquired first liftboat.