Martin Nes-linked SD Standard Drilling has made its second foray into the platform supply vessel (PSV) market in quick succession.
SD Standard has pushed $2.7m into a fund called PSV Opportunity II DIS that has bought two PSVs built in 2008 and 2009 at Aker Aukra.
Its investment gives the company a 20% slice in the project, which was put together by Clarksons Platou Project Finance.
The deal shows the strain being felt by OSV asset prices.
Arctic Securities notes the vessels cost between $30m and $35m as newbuildings.
SD Standard moved into the PSV market in August, investing in three PSVs at the lowest recorded sale price in 20 years.
Oslo Axess-listed SD Standard Drilling put $2.4m into the project for a 20% ownership.
The company shifted its business model to investing after the board re-evaluated the offshore markets and sold the company’s seven newbuilding contracts for jack-up rigs between 2011 and 2013 at “significant gains”.
Following its latest deal, SD Standard has $3.9m in cash remaining.
Fletcher Shipping is managing the ships from both projects.
