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.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Vessels

Symphony Sun’ Launched in Leer

On Friday the 29th of April, Nb. 420 was launched in Leer. She was christened ‘Symphony Sun’ and is the fourth vessel in a series of 6 that will be delivered to Symphony Shipping.

ACR to Debut Pathfinder PRO SART at OTC

An important addition to any commercial vessel’s survival gear kit, the Pathfinder PRO SART is introduced by ACR Electronics, Inc. at this year’s OTC. The new search

Holland America Line Kicks off Seattle's Record Cruise Season

The Port of Seattle begins the 2016 cruise season welcoming the first ship call, Holland America Cruise Line’s Nieuw Amsterdam. Larger vessels and more cruises

 
 
Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Electronics 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: 0.0719 sec (14 req/sec)