Siem Sells “Siem Sasha”

Maritime Activity Reports, Inc.

May 13, 2015

Car Carrier CSAV Rio Grande. Pic by Siem Shipping

Car Carrier CSAV Rio Grande. Pic by Siem Shipping

 Norwegian company Siem Offshore has sold the platform supply vessel (PSV) “Siem Sasha”.  It has delayed delivery of four of the nine platform support vessel (PSV) newbuildings it has under construction in Poland.

 
The Oslo-listed company did not reveal financial details of the sale nor the client, but said the agreement was made at market terms. Siem Sasha is designed to carry out regular supply functions and cargo transport for the oil industry as well as Standby functions.
 
The PSV was built in 2005. It is of VS 470 MK II design, 73, 4 meters long vessel and can accommodate 34 persons. The vessel had worked on a one-year contract for Nigeria’s Marine Platforms Limited since December 2013.
 
This is Siem’s second vessel sale in the space of a month. In late April, the company sold its DP2 offshore subsea construction vessel Daya 1 to Malaysia’s Day Materials for $120mln.
 
The PSV new buildings are under construction at Poland’s Remontowa yard and will now be delivered in 2016. All other vessels have long-term contracts in place and delivery remains on schedule, Idar Hillersøy, CEO of Siem Offshore, said.
 
Meanwhile, Siem Shipping has entered into two agreements. The first is with Uljanik dd shipbuilding yard, in Croatia, for the construction of two 7000 ceu pure car and truck carriers (PCTCs) for delivery in the second half of 2017. The price is in the process of being finalized, but will be in the region of USD 55mln. 
 
The second agreement is with Siem Car Carriers which will charter the two new-builds for a period of five years from delivery.
 
The two newbuilds will be chartered to sister company Siem Car Carriers for a period of five years. Both are part of Siem Industies, which is controlled by Kristian Siem and his family.
 
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