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Friday, 05 December, 2008, 17:10 GMT | more >>

Deep Sea nails leaseback deal



By Upstream staff 

Norway’s Deep Sea Supply has entered into a heads of agreement for a sale and leaseback transaction worth $198.5 million with Ship Finance International for five of its offshore supply vessels.

The sale and leaseback transaction involves the two anchor-handling tug and supply vessels Sea Cheetah and Sea Jaguar, which were delivered from Jaya Shipyard in Singapore in 2007, and the three platform supply vessels Sea Trout, Sea Halibut and Sea Angler, delivered from Cochin Shipyard this year.

The sales price for the anchor-handling tug and supply vessels will be $55 million each and the sales price for the platform supply vessels will be $29.5 million each.

The bareboat charters with Ship Finance International are for a period of 12 years with several purchase options during the charter period.

Deep Sea Supply currently has a fleet of 12 offshore supply vessels in operation and a newbuilding programme of another 16 vessels at shipyards in Norway, Singapore and India, with expected deliveries scheduled for between 2007 and 2009.


Friday, 10 August, 2007, 07:00 GMT  | last updated: Friday, 10 August, 2007, 07:45 GMT

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