Topaz MOA for $29.5m Vessel Sale

Sunday, December 27, 2009

Topaz Energy and Marine announced it entered into an MOA for the sale of its DP2 Diving Support Maintenance Barge, Team Siam, to Mermaid Offshore Services Ltd. The $29.5m sale is part of Topaz’s ongoing fleet upgrade programme towards new tonnage and a move towards more deepwater assets which is closely aligned with its long-term corporate strategy.

The Dubai based marine services and oil and gas fabrication company, Topaz Energy and Marine, today announced the divestment of the Team Siam, a DP2 Diving Support Maintenance Barge to Mermaid Offshore Services Ltd. of Thailand. The move comes as a natural progression of Topaz’s long-term relationship with Mermaid and represents exceptional value for both parties.

The Team Siam has been on charter to Mermaid Offshore for over four years. The vessel has performed outstandingly and has proven crucial to Mermaid’s operations. The decision to execute the sale was a logical development and highly beneficial to both Topaz and Mermaid.

In the normal course of business, and in line with its fleet upgrade program towards new and more deepwater assets, Topaz acquires and divests vessels on a regular basis every year. During 2009, Topaz has taken delivery of eight vessels at a value of $109m and its newbuild programme is currently worth over $200m. This considerable investment in growth has seen Topaz’s fleet strength surpass 100 during 2009 and the fleet is expected to grow further in 2010.


Vessels

C-Job Designs Flettner Freighter for Switijnk

The Dutch shipping company family Switijnk has contracted C-Job Naval Architects to develop a Rotor Sail-equipped design to meet their specific loading and sailing profile.

Damen Trading Sale hits 500th Vessel

30 years and 500 vessels later, Damen Trading is just getting started. Damen Trading’s story begins in 1986, with Damen Shipyards Group responding to growing market demand for used vessels.

Matson Orders Two ConRo Ships from NASSCO

Matson Navigation Company, Inc., a subsidiary of container shipper Matson, Inc., has signed a contract with U.S. shipbuilder General Dynamics NASSCO to build two

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0795 sec (13 req/sec)