Swire Pacific Offshore takes Olympic vessel

Swire Pacific Offshore takes Olympic vessel

Struggling Norwegian OSV firm Olympic Ship has sold a subsea support and construction vessel.

Singapore’s Swire Pacific Offshore has taken the Olympic Athene for an undisclosed price. The vessel delivered today, Olympic said in a release. The ship was built at Kleven Verft and delivered three years ago.

The sale gives Olympic, which is going through restructuring, a net positive cash effect of NOK70m ($8.37m) after repayment of debt.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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