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    SD Standard Drilling pics up two more PSVs

    Vessel & ROV News // October 13, 2017

    Through its wholly-owned subsidiary Wanax AS, SD Standard Drilling Plc is to acquire the two UT 776 CD PSVs, ER Athina and ER Georgina.

    Acquisition of ER Georgina is subject to charters consent which cannot be unreasonably withheld.

    The vessels are large PSVs, built at STX Brevik, Norway, in 2009-2010, with 1,000m2 of deck space. They are to be
    acquired for a total en-bloc consideration of US$ 22.2 million.

    The acquisitions are expected to be completed in November 2017.

    The vessels are currently working in the UK sector of the North Sea. ER Georgina is on a term contract with Maersk
    Oil until July 2018, whilst ER Athina is working in the spot market.

    Following the acquisition, the company will control, directly and indirectly, a fleet of 18 PSVs.

    Fletcher Shipping will be acting as technical and commercial manager for the vessels.

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