Swiber Holdings, under judicial management in Singapore since July, has revealed details of its creditors’ voluntary liquidation of Swiber Offshore Marine. The liquidation process of the owning vehicle began two days ago with KPMG employed to carry it out.
Last week Swiber, an oilfield services company, managed to sell one of its older barges, the Sea Horizon.
An entity called WAG SPV I has paid $10.25m to take on the 1977-built ship. The vessel is currently mortgaged to DBS Bank and the proceeds from the disposal will be used by Swiber to pay down the amounts it owes to its lead creditor.
Guys, you’ve evidently used Google images to illustrate this article, and the proceeding article linked therein, but in neither article have you used the correct image or link for the Swiber Sea Horizon barge. Indeed the linked article shows Swiber Explorer, listed as an Anchor Handler and the embedded link takes you to a Ro-Ro Ferry! Please get the basics right, its not difficult.