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Saturday, March 25, 2023

BOA OCV to Sell Subsea Construction Vessel BOA Sub C

Maritime Activity Reports, Inc.

February 6, 2023

BOA Sub C - Credit: BOA OCV

BOA Sub C - Credit: BOA OCV

The Norwegian company BOA OCV said Monday it had agreed to sell the subsea construction vessel BOA Sub C. 

The company did not say who the buyer was or what the vessel's sale price was.

"After completion of closing, BOA OCV expects, over one or several sweeps over the next three months, to distribute approximately 100-120 percent of the current outstanding amount under the Bonds. Closing is expected to occur during the first half of February," BOA OCV said.

BOA Sub C is a 2007-built vessel. It is 138.5 meters long, has a deck space of 2,004 m2, and 153 beds for accommodation. It is currently moored in Eydehavn, Norway.

Worth noting, in its third quarter 2022 report issued on November 29, BOA OCV said that the Boa Sub C would, in  the first quarter of 2023, start a one year contract with Subsea 7, with options up to one year in total.

Last year, BOA OCV sold the subsea construction vessel BOA Deep C to POSH following the exercise of the Stock Accession Option by Nordic Trustee AS on behalf of the Bondholders of BOA OCV AS on July 28.

Update: March 3 - So, who bought the BOA Sub C?

While BOA OCV did not share who the buyer of the vessel was in its February announcement, the buyer was later confirmed to be the Dutch marine services firm Boskalis.

In a Linkedin post on March 3, Lid van de Raad van Bestuur, a Member of the Executive Board of Management of Boskalis, said that the vessel's name had been changed to Boka Sub C.

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