Wanax Invests in PSV Market
Wanax AS, a wholly owned subsidiary of S.D Standard Drilling Plc, will invest USD 5.215mln in platform supply vessels (PSV) Opportunity III DIS. The investment will be done through subscription of ownership interests in PSV Opportunity III and gives Wanax AS a 35% ownership stake in PSV Opportunity III. PSV Opportunity III will take delivery of two mid-size PSV of the UT 755 LN design. The vessels were built in Norway in 2007 and 2008. The total purchase price for the two vessels is USD 11.7 million, financed solely through equity. Fletcher Shipping will act as Technical and Commercial Manager for PSV Opportunity III, while Clarksons Platou Project Finance AS will act as a Corporate Manager.
Scotland's Fletcher Shipping Snaps Up PSV
North Sea supply specialist Fletcher Shipping buys 'FS Taurus' its third vessel in five years. Currently operating in the Forties section of the North Sea, Taurus will take the total number of employees at Fletcher to 90. Set up in 2007 with backing from the Royal Bank of Scotland, the company transports food, equipment and other supplies to offshore oil and gas operators, reports 'The Scotsman'. The purchase of the Taurus – a 2,600 tonne vessel built in 1991 – has been backed by RBS and the Scottish Loan Fund (SLF) run by Maven Capital. The SLF provided £4 million upfront, with the option to draw down a further £1m, to help part-fund the deal.