The Norwegian offshore shipowner and Oslo Stock Exchange listed Standard Supply AS reports an en-bloc sale of the three large sized PSVs “Standard Viking”, “Standard Supplier” and “Standard Defender” for a gross $72.2m.
The sale is done by entering a Memorandum of Agreement for the sale of each vessel, and after adjusting for ownership, the proceeds to Standard Supply will be gross $69.5m.
Standard Supply states that the sale is subject to certain conditions which to be lifted within end-November, and the completion of the transaction is expected no later than mid-January 2024.
“Standard Supply was always intended to be an asset play with an opportunistic approach towards the market. We have seen a robust recovery within the PSV market since the IPO in 2022, and opting to realize our gains at this juncture aligns with our strategy. As with previous sales, we intend to return capital to our shareholders,” Martin Nes, chairman of Standard Supply, commented on the sale.
The company after the sale of the three PSVs now controls a fleet of four PSVs with 51% ownership interest, with three out of the four vessels presently being on short-term contracts and available for new charters in the upcoming months.
Video credit: Standard Supply
