Norway’s Standard Supply has managed to sell its last platform supply vessel on the second attempt after asking for more money than the original deal.
The Oslo-listed company said the large 5,200-dwt Standard Supplier (built 2007) has gone for $22.7m to an unnamed buyer.
The deal is expected to be completed in April.
In January, Greek owner Evangelos Marinakis’ new company Capital Offshore scrapped a deal to buy the ship for $20.9m.
This price was agreed in November. VesselsValue assesses the PSV as worth $21.9m.
Oystein Stray Spetalen-backed Standard Supply reported that Capital Offshore said the sale was terminated due to the company not delivering the vessel according to the contract.
The deal was expected to be completed by mid-January but had been delayed due to ongoing repair of the Azimuth thruster, the company added.
The ship had been off-hire since October, but it is currently chartered to UK oil major BP at £18,595 ($23,800) per day.
Cash back to shareholders
“Following the sale of the last vessel, the company will be left with cash of $42m to $43m,” chairman Martin Nes said.
Tycoon Spetalen moved into the PSV sector in 2016, spotting an opportunity to acquire distressed assets in the slump.
The fleet peaked at about 20 ships in 2019.
Spetalen held his nerve through more lean years, before starting to cash in on the vessels as secondhand prices soared in the offshore recovery.
Marinakis set up Capital Offshore last year in connection with the purchase agreements of seven offshore supply vessels from Standard Supply.
Shipbroker Clarksons has been given a mandate to acquire up to 10 OSVs for the company, TradeWinds reported.
The sale of the two large-size PSVs Standard Viking and Standard Defender was completed on 12 December and the four midsize vessels on 29 December.
The Norwegian company has said it intends to return capital to shareholders after the transactions.
