Singapore: Singapore-listed STX OSV Holdings has revealed that Tidewater has acquired contracts for three platform supply vessels (PSVs) under construction at STX OSV in Norway.
STX OSV had originally secured the contracts for the design and construction of three vessels for sister firm STX Pan Ocean in 2010, and Tidewater has now entered into an assignment agreement with STX Pan Ocean to take over these contracts. The first vessel in the series will be delivered to Tidewater during 1Q 2013. Deliveries of the next two vessels are scheduled for Q2 and Q3 2013.
The move comes as the Korean STX Group rapidly downsizes in the wake of enormous debts that it is struggling to pay off. This has seen many parts of the group come up for sale, including STX OSV, in which Fincantieri of Italy has bought a majority stake recently and even STX Pan Ocean, Korea’s largest bulker operator. [11/01/13]
