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    Siem Offshore gives Daya more time to find finance for OCVs

    Company News // January 21, 2015

    Siem Offshore is giving Daya Materials Bhd more time to raise the finance it nees to acquire two offshore construction vessels (OCVs).

    In August 2014, Siem Offshore and Daya Materials Bhd entered into an agreement for the sale of two 2013-built vessels, Siem Daya 1 and Siem Daya 2, at a total price of US$282 million.

    Daya paid a deposit of US$1.4 million in aggregate on the vessels, and has been given until mid-April 2015 to arrange financing and pay the remainder of the deposit. The deposit will equate to 10 per cent of the purchase price. Delivery of the vessels will take place by mid-July 2015. 

    Both vessels are on long-term charters to Daya and the charter agreements will continue until deliveries are concluded.


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