James Fisher selling 2007-built dive support vessel

UK-headquartered provider of marine engineering services James Fisher and Sons is selling the Subtech Swordfish dive support vessel (DSV) for a cash consideration of $24 million.

James Fisher

The company has entered into a Memorandum of Agreement (MoU) for the sale of the 2007-built vessel to Seamec Limited, a company incorporated in India.

The transaction remains subject to the completion of the formal sale process, including issuing of a Notice of Readiness and completion of flag requirements.

Swordfish has been on a customer contract with an international energy services company during 2022, supporting diving activities in the Middle East.

The sale agreement allows for James Fisher to maintain access to the DSV until the end of Q3 2023, enabling it to complete existing and potential customer commitments.

The 104-meter-long vessel is designed for saturation diving, ROV, survey and crane operations, as well as offshore installations of subsea hardware, deepwater inspection, repair and maintenance (IRM), and well intervention services.

“The sale of the Swordfish is a further demonstration of the Group’s previously announced asset-light strategy. The Group is establishing partnerships with vessel owners to facilitate access to multiple dive support vessels in the region,” James Fisher stated. 

The company announced in November that it is exploring strategic options for several businesses, which may result in their future sale.

The British firm recently took delivery of MV Sir John Fisher, the first of two 6,000 dwt LNG dual-fuel tankers.

The tanker is equipped with efficient dual-fuel engines able to run on liquified natural gas, just like its sister vessel Lady Maria, which is expected to follow in 2023.

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