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SEACOR Marine to acquire 3 PSVs from affiliates of COSCO Shipping Group

Logistic News - Published on Mon, 21 Jan 2019

Image Source: Splash 247
SEACOR Marine Holdings Inc announced that it has entered into definitive agreements to acquire three platform supply vessels from COSCO Shipping Heavy Industry (Zhoushan) Co Ltd an affiliate of COSCO Shipping Group, the world’s largest ship owner. Aggregate consideration for the vessels will be approximately USD 46.0 million, of which 30% will be paid in cash and 70% will be paid under a four-year deferred payment agreement between SEACOR Marine and COSCO Zhoushan. Half of the cash payment will be funded in the first quarter of 2019 with the balance per vessel to be paid upon physical delivery of each vessel. The parties currently expect the vessels to be delivered on September 30, 2019, January 30, 2020, and April 30, 2020.

The PSVs acquired are Rolls Royce UT771CDL design of 3,800 tons deadweight capacity with dynamic position class 2 and firefighting class 1 notations. They can accommodate a subsequent upgrade to a battery hybrid power solution. They will be registered in the Marshall Islands and be named the M/V SEACOR Alps, SEACOR Andes, and SEACOR Atlas, respectively.

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Posted By : Joykumar Irom on Mon, 21 Jan 2019
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