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    Miclyn Express Offshore sells four vessels

    Vessel & ROV News // January 7, 2011

    Local press reports say Singapore-based service vessels provider Miclyn Express Offshore has sold a total of four vessels for a combined profit of $4.9 million as it flagged lower than expected results for the calendar year.

    The company has sold an accommodation work barge to a Malaysian company for $3.7 million. The latter has also chartered Miclyn's 8,200 bhp anchor-handling tug Magellan I, which is currently under construction, for two years with an option for two more.

    The funds will be used by Miclyn for expansion opportunities in other OSV classes and continued fleet renewal in the crew/utility vessel segment of the company.

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