Two platform supply vessels to be sold for $6.6 million

Northern Supply, where S.D. Standard Drilling has indirect ownership of 28.1 per cent, has entered into a memorandum of agreement (MOA) to sell the two medium-size platform supply vessels (PSVs).

Northern Supply has agreed to sell two UT 755 LN PSV vessels, FS Carrick and FS Aberdour, for enbloc $6.6 million, Standard Drilling said on Thursday.

The vessels are medium size PSVs, built at Aker Aukra, Norway 2009, with 680m2 deck space.

Northern Supply has received a 10 per cent deposit of the purchase price.

The transaction is expected to be completed within 15 February 2021.

Following the sale, S.D Standard Drilling will have ownership, directly and indirectly, in a fleet of 10 PSVs; four large PSVs 100 per cent owned and six medium-sized PSVs with 28.1 per cent ownership interest.

Standard Drilling in December 2020 secured more work for its fleet of platform supply vessels, bringing the vessel utilization for the company’s owned large size PSVs up to 74 per cent in October and November.