Improving offshore markets has helped UK shipowner James Fisher secure an increased sale price for the last of its offshore support vessels.
Indian bulker and offshore vessel owner Seamec has agreed to pay $24m for the 4,400-dwt dive support vessel Subtech Swordfish (built 2007).
The transaction remains subject to completion of the formal sale process, including issuing of a notice of readiness and completion of flag requirements, James Fisher said.
The Swordfish has been on customer contract with an international energy services company during 2022, supporting diving activities in the Middle East.
James Fisher said the sale agreement allows it to maintain access to the vessel until the end of the third quarter of 2023, enabling it to complete existing and potential customer commitments.
This is the second vessel the London-listed company has sold to Seamec following the sale of the diving support vessel Subtech Paladin (built 2008) to the company in July 2021 for $17.3m.
The Subtech Paladin was the former Toisa Paladin which was bought at auction in 2018 for $20.3 from Greece's bankrupt Toisa group. The ship was laid up at the time.
“The sale of the Swordfish is a further demonstration of the group's previously announced asset-light strategy,” James Fisher said.
It added that it was “establishing partnerships with vessel owners to facilitate access to multiple dive support vessels in the region”.
James Fisher bought the Kleven Verft-built Atlus Uber for $24m in 2019. However, the vessel’s value was assessed as worth a little over $9m in September 2021.
In December, the company offloaded three companies as part of its strategy to rationalise and focus its portfolio and strengthen its financial position.
It sold the UK arm of its load monitoring solutions Strainstall as well as vessel condition monitoring company Mimic to UK-based BES Group.
Despite the vessel sales, James Fisher remains an active shipowner with a fleet of small tankers trading along the UK and northern European coastlines.
It recently took delivery of the first of two 6,000-dwt LNG-dual fuel chemical tankers from China Merchants Jinling (CMJL) shipyard in Yangzhou, China.
The Sir John Fisher and the second ship, the Lady Maria, are each said to be capable of achieving a 45% reduction in carbon emissions, in addition to a 93% reduction in NOx and 45% reduction in Sox, according to the shipowner.
