SINGAPORE (Jan 7): Vallianz Holdings is down 4.5% at 4.2 cents after the operator of offshore support vessels announced a deal by a unit to buy two newly-built ships for US$21.8 million ($31.3 million).

Vallianz, which did not specify the type of vessels purchased, said in a statement that the deal is in line with its strategy to support its business.

The share-price decline may be a signal investors are wary of fresh investment by the company, given depressed conditions for most sectors of the marine transport industry.

It exceeds the 2.1% decline in the benchmark Straits Times Index.