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Siem Offshore Sells Mid-Size PSV

Source: www.gulfoilandgas.com 12/20/2011, Location: Europe

The Company has entered into an agreement for the sale of the mid-size PSV "Siem Danis" at a price of USD 34 million. The delivery is scheduled for first quarter 2012. The sale will represent a gain of approximately USD 14 Million. The sales proceeds will be used to repay debt of approximately USD 20 Million and to strengthen the Company's cash position for business development purposes.

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Related Categories: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 

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