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.