Discover the Athena: Ratings & Maritime News

SBM Offshore has made headlines today by finalizing the sale of their newly-built Diving Support and Construction Vessel (DSCV), SBM Installer, for a substantial cash amount of US$150 million. This strategic move sees the vessel transitioning to a joint venture between SBM Offshore, holding a 25% stake, and Ocean Yield ASA, which owns the remaining 75%. Notably, the SBM Installer won't be leaving the SBM Offshore fleet entirely, as it will be bareboat chartered back to the company for an extended duration of 12 years. After the initial five-year period, SBM Offshore retains the option to reacquire the vessel, fostering a continued relationship with this vital asset.

In a significant development, SBM Offshore has finalized plans to sell the DSCV SBM INSTALLER, a state-of-the-art Diving Support and Construction Vessel (DSCV), to Daya Vessels Limited, a subsidiary under Daya Offshore Construction Sdn Bhd. The deal is valued at $180 million in cash and marks a strategic move for both companies. The parties have recently inked a memorandum of agreement, contingent upon Daya Vessels Limited securing the necessary financing for the transaction. The completion of this sale is anticipated in the first quarter of 2014. Notably, the transaction does not require any further regulatory approvals, and both companies have obtained Board approval for the sale, as confirmed in SBM Offshore's official press release.