Cyprus: Deep Sea Supply Sells AHTS Vessel to International Buyer

Deep Sea Supply has entered into a sales agreement for the AHTS vessel “Sea Lion” to an international buyer. Expected delivery of the vessel to new owner is 2nd quarter 2011. The vessel will leave the North Sea market after delivery to new owner.

The parties have agreed to keep the terms and conditions of the transaction private and confidential. The profit from the sale will be booked in 2nd quarter 2011.

After the transaction, Deep Sea Supply’s fleet will consist of 23 offshore supply vessels of which 19 in operation and 4 under construction.

Deep Sea Supply Plc (“DESSC” or “The Company”) is an offshore supply company. The Company is a shipowner and operator of several Anchor Handling Tug Supply vessels (“AHTS vessels”) and Platform Supply Vessel (“PSV”) in operation and has an extensive new building program.

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Source: Deep Sea Supply, May 31, 2011.