Seacor Marine buys four platform supply vessels

One of Seacor Marine's PSVs (For illustration)

Seacor Marine, a U.S.-based marine and support transportation services provider to oil and gas industry, has announced the acquisition of four foreign-flagged platform supply vessels (PSVs). 

The company and the sellers agreed to keep the exact terms of the transaction confidential but confirmed aggregate consideration for the four vessels was in the range of $7-9 million in cash, Seacor Marine said last Thursday.

The four vessels are mid-size PSVs of UT 755LN design (approx. 3,250 deadweight) built between 2009 and 2010 with dynamic positioning class two systems.

According to the company, all the vessels are currently located in West Africa, all have valid regulatory trading certificates, and three of the four are presently employed on time charters.

John Gellert, the company’s Chief Executive Officer, commented: “We are pleased to have successfully concluded this transaction after a lengthy process. We believe the price represents strong value for the vessels and offers a compelling use of a portion of our cash reserves.”

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