Ocean Yield in ‘Geco Triton’ sale

Ocean Yield ASA has agreed to sell the 1991 built seismic vessel “Geco Triton”.

The company sold the vessel to the charterer for $8.2 million.

The vessel was on a long term bareboat contract with Western Geco until December 2015 and Ocean Yield says that the sales price includes full payment of remaining charterhire. The current book value of the vessel is about $12 million. Furthermore, as there is no debt on the vessel, the net cash proceeds will be equal to the sales price.

The vessel, Geco Triton, was converted from trawler into a Seismic vessel in 1998.

Meanwhile, Ocean Yield has taken delivery of the diving support and offshore construction vessel (DSCV) “SBM Installer”.

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