Norwegian OSV owner Standard Supply has sealed a deal to sell three of its large platform supply vessels for $72.2m.
The deal, which will see Standard Viking, Standard Supplier and Standard Defender exit the fleet, is subject to certain conditions to be lifted within the end of November. The company said it expects gross proceeds of $69.5m after the sale is completed by mid-January 2024.
The 2007-built Standard Viking and Standard Supplier were acquired from Volstad in 2017 as part of a three-ship deal worth $40m, while the 2019-built Standard Defender was picked up from Island Offshore in June last year for around $20.7m.
Commenting on the transaction, Martin Nes, chairman of Standard Supply, said: “Standard Supply was always intended to be an asset play with an opportunistic approach towards the market. We have seen a robust recovery within the PSV market since the IPO in 2022, and opting to realise our gains at this juncture aligns with our strategy. As with previous sales, we intend to return capital to our shareholders.”
Following the sale, the Oslo-listed company, majority owned by Øystein Stray Spetalen’s investment vehicle SD Standard ETC will control a fleet of four PSVs with 51% ownership interest. Three of the four vessels are currently employed on short-term contracts.
