Ezion Holdings sells wind turbine installation vessel

Singapore-based offshore platform operator Ezion Holdings has entered into a memorandum of agreement with EBO Investment Holdings for the sale of 2016-built wind turbine installation vessel Teras Ocean.

The Chinese-built vessel was sold for a price of $18.5m, and Ezion will use the proceeds from the sale to repay bank loans.

The company believes that without the required funding to reactivate and deploy the vessel for work, the disposal will allow it to stop incurring further operating costs and liabilities and also to reduce its outstanding liabilities.

According to the company, the net losses generated by the vessel for the first half of this year is around $10.43m.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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