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Wednesday, June 23, 2021

Standard Drilling Agrees to Sell Standard Olympus PSV

Maritime Activity Reports, Inc.

June 11, 2021

Image Credit: Joe Moore - MarineTraffic.com

Image Credit: Joe Moore - MarineTraffic.com

Oslo-listed offshore vessel owner S.D. Standard Drilling Plc. has agreed to sell the Standard Olympus platform supply vessel for $7.5 million to an undisclosed buyer.

"The sale of Standard Olympus will result in a gain for Standard Drilling of gross USD 1.3 million," the company said.

The vessel is a large Platform Supply Vessel (PSV), built at Havyard Ship Technology AS, Norway, in 2014, with 800m2 deck space.  

"The transaction is a result of Standard Drilling’s renewed focus on more diversified investments within the shipping, offshore, and renewables segments. It gives Standard Drilling increased flexibility to pursue other investment opportunities” said Martin Nes, Chairman of Standard Drilling. 

Following the sale, Standard Drilling will control, directly and indirectly, a fleet of 9 platform supply vessels; three large 1,000 m2 PSVs 100% owned and six medium-sized PSVs with about 28% ownership interest. 

In addition, the company has 33.3% ownership of the VLCC vessel Gustavia S and a share portfolio. 

"The sale will further strengthen the company's cash balance. The transaction is subject to certain corporate resolutions and the buyer’s inspection and acceptance of the vessel. The transaction is expected to be completed within August 2021," Standard Drilling said.

MarineTraffic's AIS data shows the vessel was last located at the Kinsale offshore area in Ireland, a couple of days ago.

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