Malaysia’s Petra Energy has sold its 2009-built accommodation work barge Petra Lyra via its subsidiary Petra Marine.
The Malaysia-flagged vessel was sold to Great Sky Investments Corporation, a company nominated by Star Chance Limited, for $3.95m in cash.
The company said in a filing the disposal is timely for it to monetise the non-performing asset within the group, and crystalise the asset value at a reasonable price.
“At the same time, the disposal will result in future savings in terms of annual laid-up costs, reactivation and dry-docking,” Petra Energy added.
Part of the proceeds to be raised from the disposal will be utilised for working capital, while the remainder will be for a special dividend.
The sale is expected to be completed by December 27 with Petra recognising a net disposal loss of about $120,000.
