SembCorp Marine acquires Equinox Offshore entitiesCompany News // May 21, 2013
Sembcorp Marine's subsidiary Sembawang Shipyard Pte Ltd has exercised its voting rights to acquire all the membership interests in Equinox Offshore Brazil Cooperative UA (EOBC) and shares in Equinox Offshore ARV3 BV (EO ARV3) (collectively 'EO Entities') as EO ARV3 remained in default of its payment obligations for the conversion of the accommodation and repair vessel ARV3 by Sembawang Shipyard.
The ARV3 is a diesel-electric DP2 high-specification vessel that is designed and equipped to provide extensive accommodation and workshop facilities to support and service offshore facilities and projects in deep water areas.
The vessel has accommodation and workshop facilities to comfortably house a complement of 450 persons.
EO ARV3, which owns ARV3, has a five-year charter contract with Petrobras to lease and operate the vessel in Brazil.
The net tangible asset of the EO Entities is S$1. No payment was required from Sembawang Shipyard for the same.