Equinox Loses Vessels and Petrobras Contract

Equinox Loses Vessels and Petrobras Contract

Singapore’s Sembawang Shipyard has acquired all the membership interests in Equinox Offshore Brazil Cooperative U.A and shares in Equinox Offshore ARV3 BV as EO ARV3 was unable to fulfill its payment obligations for the conversion of the accommodation and repair vessel ARV3 by Sembawang Shipyard.

The ARV3 is a diesel electric DP2 high-specification vessel that is designed and equipped to provide extensive accommodation and workshop facilities to support and service offshore facilities and projects in deep water areas. The vessel has accommodation and workshop facilities to comfortably house a complement of 450 persons. EO ARV3, which owns ARV3, has a five-year charter contract with Petrobras to lease and operate the vessel in Brazil.

Equinox Offshore Accommodation Limited, a Company incorporated as a Public Company in Singapore in 2007, will cease to have any control over the ARV3 project and the associated Petrobras contract.

To remind, Brazil’s state run oil company Petrobras, in November 2011, awarded a Letter of Intent to Equinox for the provision of an accommodation and repair vessel (ARV). Following the LOI, in December 2011, Equinox contracted Sembawang Shipyard, a subsidiary of Sembcorp Marine, to convert a ropax vessel to a DP2 Accommodation and Repair Vessel (ARV). The estimated value of the contract was US$140 million.

Also, Equinox last week announced that certain bondholders of the Company have  arrested the ARV1 vessel in Gibraltar and sold the unit in a judicial sale process in accordance with the admiralty court of Gibraltar. “As such, the Company has no control or will receive no benefit from the sale of the ARV1 vessel,” the company said.


Offshore Energy Today Staff, May 21, 2013



Share this article

Follow Offshore Energy Today


<< Oct 2015 >>
28 29 30 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

All-Energy 2015

The All-Energy Australia Conference is a multi-track, two-day event coverage everything from renewable and clean energy innovation and project…

read more >

Oil and Gas Training

EI Oil and Gas Training offers a comprehensive programme of courses for the oil and gas industry, both as classroom training ranging…

read more >

KIOGE 2015

KIOGE is the major ‘Oil and Gas’ exhibition and conference event in Kazakhstan and the countries of the Caspian Region…

read more >

Offshore Support Vessel Conference

Maersk Supply Service discuss how you can contribute to reducing the costs of oil and gas operations…

read more >


QC Coordinator Offshore

Do you attach great importance to quality and do you have an affinity with offshore projects? Then read about what Van Oord can offer you.


Assistant Driller

Maersk Drilling Norge AS was established in 1990 and employs a staff of approximately 1000 people.



For one of our clients we are looking for a Ships Electrician. Our client is a company with worldwide activities. You will work in a rotation of 4 till 6 weeks on and off.