Aker Solutions Sells Offshore Ship to Ocean Yield

Press Release
Thursday, October 11, 2012

AMC Connector AS, a Aker Solutions & Emas Offshore joint venture, has agreed to sell subsea construction & cable-lay vessel 'Lewek Connector'.

In October 2010, Aker Solutions announced that it would sell its offshore construction and installation subsidiary Aker Marine Contractors to Ezra Holdings Limited (Ezra), which operates in the offshore construction market under the EMAS AMC brand name. As part of this transaction, Ezra agreed to acquire 50 percent of the shares in Lewek Connector's vessel owning company, AMC Connector AS.

The divestment of Aker Marine Contractors marked the start of a restructuring of Aker Solutions, which has since streamlined the company into becoming a fully-fledged provider of oilfield products, systems and services.

AMC Connector AS, which is a 50/50 joint venture between Aker Solutions and Emas Offshore Limited, is now selling the vessel Lewek Connector to vessel owning company Ocean Yield AS.

Lewek Connector is being sold for a total consideration of USD 315-million, which will give a small positive result effect for Aker Solutions. The sale also provides Aker Solutions with a net cash release of approximately NOK 345 million.

Aker Solutions owns approximately 7.4% of Ezra, which is listed on the Singapore stock exchange.The transaction will be completed in Q4 2012.

 

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Shipping Confidence Hits 2.5 Year Low

Overall confidence levels in the shipping industry fell to their lowest level for two-and-a-half years in February 2015, according to the latest Shipping Confidence

U.S. DoI Upholds 2008 Shell Arctic Lease

The U.S. Interior Department on Tuesday upheld a 2008 lease sale in the Chukchi Sea off Alaska, moving Royal Dutch Shell a step closer to returning to oil and gas

All American Marine Delivers Ferry to Seattle

All American Marine, Inc. (AAM) today announced the delivery of a new passenger ferry that will serve the city of Seattle.    The vessel, MV Sally Fox, was dedicated

Offshore

U.S. DoI Upholds 2008 Shell Arctic Lease

The U.S. Interior Department on Tuesday upheld a 2008 lease sale in the Chukchi Sea off Alaska, moving Royal Dutch Shell a step closer to returning to oil and gas

Japan, U.S. Look to Expand Naval Cooperation

Japanese Prime Minister Shinzo Abe's push to allow Tokyo to come to the aid of an ally under attack will pave the way for closer cooperation between U.S. and Japanese forces across Asia, a top U.

BP Terminates GoM Rig Contracts

BP terminated contracts for two deepwater oil drilling rigs in the Gulf of Mexico as the British oil company slashes its exploration budget due to fallen oil prices.

Ship Sales

DryShips to Sell its Suezmax Tanker Fleet

DryShips Inc. (NASDAQ: DRYS), has announced  that it has entered into firm sales agreements with entities controlled by the Company's Chairman and Chief Executive Officer,

MSC Acquires Second Boxship

MSC Oliver was inaugurated at the DSME shipyard in Busan, South Korea, just two months after the delivery of MSC OSCAR. This week, it was the turn of Oscar’s cousin,

A Better Charter Market in 2016?

Shipowners that charter out container ships to liner operators are hopeful that 2016 will bring increased demand and higher charter rates for containerships, JoC reports.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 4.7833 sec (0 req/sec)