Sinwa offloads vessel to Go Offshore

Singapore: Singapore-based marine supplies firm Sinwa announced that its subsidiary, Sinwa Emerald, has reached an agreement with GO Offshore for the sale of the vessel GO Emerald, for $5.5m. The total consideration includes $4.20m for the vessel and the rest $1.3m for early termination and settlement of the charter hire.
The expected time of delivery is March 19, 2014.

“The directors of Sinwa are of the view that the Proposed Disposal is in line with the Group’s strategy to divest its vessels and to expand its core business in marine, offshore supplies and logistics," the company said in a press release. [11/03/14]

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