SD Standard Drilling continues to invest in PSVs

SD Standard Drilling continues to invest in PSVs

Norwegian offshore investment vehicle SD Standard Drilling has taken a 20% stake in PSV Opportunity II DIS.

PSV Opportunity II DIS is managed by Clarksons Platou Project Finance AS and owns two mid-size PSVs, built at Aker Aukra in 2008 and 2009.

SD Standard Drilling has paid $2.7m for the stake, with the vessels costing $10.8m in total. Fletcher Shipping will act as technical and commercial manager for the vessels.

SD Standard Drilling was taken over last year 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.

In August, the company invested $2.4m to take a 20% stake in PSV Opportunity I DIS, which owns  three mid-size platform supply vessels.

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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