Swissco sells AHTS to reduce debt

Swissco sells AHTS to reduce debt

The interim judicial managers of Singapore OSV operator Swissco Holdings has announced that subsidiary Swissco Offshore has entered into a memorandum of agreement with Australian Maritime Systems Asset Holdings for the disposal of AHTS Coral Knight.

The vessel is currently bareboat chartered to Australian Maritime Systems Asset up to April 29. The selling price for the vessel is $7.2m.

The managers reckons the disposal will help reduce the group’s liabilities and it is in line with the purposes of the interim judicial management, including a more advantageous realization of the group’s assets than would be effected by a winding up and the survival of the group.

At the end of March, Swissco sold the remaining 50% stake in three jack-up rigs it co-owns with Ezion to the latter.

Swissco sought judicial management in Singapore last November.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

Related Posts