Norway: Siem Offshore Sells Mid-size PSV ‘Siem Danis’

Siem Offshore has entered into an agreement for the sale of the mid-size PSV “Siem Danis” at a price of USD 34 million.

The delivery is scheduled for first quarter 2012. The sale will represent a gain of approximately USD 14 Million.

The sales proceeds will be used to repay debt of approximately USD 20 Million and to strengthen the Company’s cash position for business development purposes.

[mappress]

World Maritime News Staff, December 20, 2011; Image: Siem Offshore