McDermott International has snapped up a vessel previously owned by bankrupt Ceona through a sale-and-leaseback deal with Offshore Merchant Partners (OMP) and Northern Shipping Fund.
The New York-listed company said the acquisition of the 33,000-gt Amazon (built 2014) will better position it for ultra-deepwater projects.
The newbuilding price of Amazon is estimated around $350m.
A spokesperson from the company confirmed to TradeWinds the acquisition cost was $52m.
David Dickson, president of McDermott, said: “Due to current market conditions and the opportunistic nature of the transaction, we were able to acquire what is essentially a new, enabling asset at a fraction of the original build cost.”
McDermott plans to upgrade the vessel but, until then, it will deploy it on existing projects.
The US-based owner will take the Amazon on an 11-year bareboat charter from OMP, with acquisition options attached.
OMP said it has invested about 40% of its total commitments of $381m following this transaction.
Alf Thorkildsen, chairman of OMP, said: "I am pleased with the fact that OMP’s has structured a bespoke long term financial solution for MDR, and that the team is building the portfolio further with high-quality counterparties."
The Amazon was the flagship pipe-layer ship owned by Ceona Offshore, which went into administration in September 2015.
