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    SBM Installer sold

    Vessel & ROV News // December 2, 2014

    SBM Offshore has entered into an agreement to sell SBM Installer, a diving support and construction vessel (DSCV), to OS Installer AS for US$150 million in cash.

    OS Installer AS is a newly established joint venture between Ocean Yield ASA (75 per cent) and SBM Offshore (25 per cent). 

    Both parties have signed a memorandum of agreement, and SBM Offshore will charter the vessel under a long-term bareboat charter for a fixed period of 12 years. 

    The company will have certain options to acquire the vessel during the bareboat charter period, with the first option exercisable after five years.

    The transaction is expected to close before the end of 2014 and is subject to final agreement on bank financing.

     

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