MMA Offshore offloads two more ships

Australian OSV operator MMA Offshore has completed the sale of a further two vessels; a platform supply vessel, Mermaid Vigilance, renamed Iris, and an anchor handling tug supply vessel, MMA Chieftain, for a total of $5.5m.

The 2009-built PSV was acquired by Abu Dhabi-based OSV provider Allianz Marine earlier this year for $2m, according to VesselsValue data. Allianz was subsequently taken over by Dubai-based asset management and investment banking firm Shuaa Capital. The buyer of the 2010-built AHTS has not been revealed.

MMA said the sale values for these vessels were in line with the assets held for sale on the company’s balance sheet and that the proceeds will be used to pay down debt. For the current financial year, MMA has banked around $13.4m from vessel sales, against assets held for sale at the beginning of the financial year of some $23.4m. Earlier in March, the 2010-built PSV MMA Leveque was sold to a subsidiary of Fortescue Future Industries (FFI) for $7.75m.

David Ross, MMA’s managing director, commented: “We are pleased to make further progress on our non-core vessel sales program and the ongoing deleveraging of our balance sheet. We are confident of closing out the majority of the remainder of the non-core vessel sales program in the coming months.”

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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