Armada Group News

Malaysian FPSO leasing company Bumi Armada said Tuesday it had completed the sale of the Armada Claire floating production storage and offloading vessel. The FPSO was sold by Bumi Armada's subsidiary, Armada Balnaves."The Armada Claire sale was on an “as is where is” basis, at a sale price of US$20 million. The sale proceeds were received by [Armada Balnaves] on April 19, 2023," Bumi Armada said,Bumi Armada said it would recognize a gain on sale of the Armada Claire FPSO of approximately US$12 million in its second quarter financial results. Proceeds from the FPSO sale, net of transaction fees, will be used to reduce Bumi Armada Group’s corporate debt.

Strategic Software is restructuring in order to streamline its business services and allow expansion into the ship operating sector. Ownership of VesselOps, the integrated vessel operations and voyage management system developed in close cooperation with the Armada Group, is passing to Softmar Ltd., a dedicated company created by founder and chairman of Strategic software, David Marais. Softmar will work closely with Strategic Software and both companies will continue working from Strategic’s London headquarters. Marais will remain a major shareholder and member of the board of Strategic, the company he founded nearly 20 years ago. Strategic is also a major shareholder in Softmar.