Singapore-based liftboat operator Ezion Holdings has entered into a memorandum of agreement with Virgo Shipping for the sale of its 2015-built liftboat Teras Fortress 2.
The liftboat has fetched a price of $22m in the deal.
Ezion said the disposal will allow the company to stop incurring further operating costs and lower liabilities via partial repayment of bank loans.
According to Ezion, the buyer Virgo Shipping is Singapore-based company mainly involved in the business of chartering of ships to support the offshore oil and gas industry.
Ezion Holdings has been selling its vessels this year in order to ease its financial pressure, having sold wind turbine installation vessel Teras Ocean in September.