SD Standard Drilling offloads PSV

Øystein Stray Spetalen’s S.D. Standard Drilling (SDSD) has struck a deal to sell its 2014-built platform supply vessel Standard Olympus for $7.5m.

The sale of the Havyard-built PSV will result in a gain for Standard Drilling of gross $1.3m. Online pricing platform VesselsValue estimates the vessel is worth close to $11.5m.

Standard Drilling acquired the vessel for $8.1m in a court sale in April 2019.

“The transaction is a result of Standard Drilling’s renewed focus on more diversified investments within the shipping, offshore and renewables segments. It gives Standard Drilling increased flexibility to pursue other investments opportunities” said Martin Nes, chairman of Standard Drilling.

Following the sale, Standard Drilling will control, directly and indirectly, a fleet of 9 PSVs.

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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