Eidesvik Sells Two OSV's, Buys New One

Press Release
Tuesday, May 01, 2012

Eidesvik takes gain in Brazil & buys new offshore supply vessel

Eidesvik has entered into sales agreements of US$ 64 million for the two supply vessels Viking Surf (built 2002) and Viking Thaumas (built 2005). Both vessels are employed on contracts in Brazil.

The deliveries of the vessels are expected to take place in the first half of May 2012. The company will record a gain of approximately 77 million Kroner. A seller credit of US$ 12 million is established in connection with the transaction. The credit is secured by a bank guarantee and will be repaid by 12 installments during the next 12 months. The transaction will give a positive net liquidity of US$ 32 million after mortgages have been paid.

Simultaneously Eidesvik has entered into an agreement for buying a supply vessel, a UT 755L built at STX Aukra Norway in 2004, for US$ 24 million. The delivery is expected to take place during first half of May 2012.

The financial return on the operations in Brazil has not been as good as expected. Hence, Eidesvik has chosen to sell these vessels and is now to be positioned to invest in vessels that give significantly higher return. 

The new OSV will be used in the spot market in the North Sea for the summer season 2012 where this market is expected to be strong this summer. 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Newport News, ODU Partner for Bachelor's Degree Program

Huntington Ingalls Industries (HII) announced today that apprentices at Newport News Shipbuilding will now have the opportunity to earn a bachelor of science degree

Euronav Posts 62% Core Profit Increase

Belgian crude oil shipping group Euronav on Wednesday unveiled a 62 percent rise in first-quarter core profit as daily rates for its fleet rebounded from last year.

Modern Solutions Power Systems Conference

Thomas Alva Edison, who is considered to be one of the most prolific inventors in history, once said, “I find out what the world needs. Then I go ahead and try to invent it.

Contracts

Newport News, ODU Partner for Bachelor's Degree Program

Huntington Ingalls Industries (HII) announced today that apprentices at Newport News Shipbuilding will now have the opportunity to earn a bachelor of science degree

Navios Time Charters Two Product Tankers

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, has announced  that the Nave Equinox and the Nave Pulsar have been chartered out

Azeri Shipyard, BP Sign Vessel Construction Contract

Azeri state energy company SOCAR's shipyard and British oil major BP have signed a $378 million deal to design and build a subsea construction vessel for the Shah Deniz II gas project,

Offshore

Offshore Oil & Gas: Brazil’s Northern Frontier

In an effort to spread out oil and gas production to other parts of the country and increase overall oil production, Brazil has finally intensified hydrocarbon

Safety the Focus as Heavy Lifting Picks Up

Modern heavy lift capabilities are crucial for safe, efficient operations offshore Heavy lift operations offshore are an awe-inspiring feat, but an operation that

Azeri Shipyard, BP Sign Vessel Construction Contract

Azeri state energy company SOCAR's shipyard and British oil major BP have signed a $378 million deal to design and build a subsea construction vessel for the Shah Deniz II gas project,

Vessels

ABS Approves Design for GTTNA’s LNG Bunker Barge

GTT North America (GTTNA), the Houston-based subsidiary of French engineering and technology company Gaztransport & Technigaz SA (GTT), received approval in principle from ABS for the design of a 2,

Navios Time Charters Two Product Tankers

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, has announced  that the Nave Equinox and the Nave Pulsar have been chartered out

RINA Launches Notation for Eco-ships

International classification society RINA has launched a new voluntary notation to clearly identify new ship designs which meet eco-ship criteria. The Efficient

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Offshore Oil Pipelines Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1720 sec (6 req/sec)