S.D Standard Drilling invests in PSV pair

S.D Standard Drilling invests in PSV pair

Norway’s S.D Standard Drilling has further invested in platform supply vessels via its subsidiary, Wanax. Wanax has investing $5.215m to take a 35% stake in PSV Opportunity III DIS.

PSV Opportunity III is managed by RS Platou and has acquired two mid-size UT 755 LN design PSVs, built in 2007 and 2008, for $11.7m

The vessels will be managed by Fletcher Shipping once the transaction is complete, expected to be around January 19.

In August S.D Standard Drilling took a 20% stake in PSV Opportunity I which owns three PSVs, while in October it took a 20% stake in PSV Opportunity II which owns two PSVs.

SD Standard Drilling was taken over in 2015 by Saga Tankers, which is controlled by Øystein Stray Spetalen. It was incorporated in 2010 starting out as a rig operator, then later sold all its rig building contracts and adopted a strategy of investing within the oil and gas service sector.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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