One of Siem’s Less Efficient Vessels Sold for Recycling
Siem Shipping has sold one of its less efficient vessels, the Timaru Star, for recycling.
The sales price was USD2.0 million. The transaction will have no profit or loss impact in Q3 2013. The terms of the sale are that the vessel must be recycled according to ISO-standards.
The transaction was part of the Company’s strategy to sell its less efficient vessels.
Press Release, August 8, 2013