Offshore Shipping Online

A publication for the offshore shipping industry published by Clarkson Research

  • Offshore Intelligence Monthly
  • Menu

    Seacor signs up for eight ships

    Contracts, Tenders and Rates // December 1, 2000
    Seacor Smit says it has signed letters of intent to acquire two platform supply vessels and six mini-supply vessels. All the vessels were constructed in the last three years. The two separate transactions are expected to cost Seacor Smit around $40.0 million.

    Approximately $22.0 million of the purchase consideration will be paid in cash, and $3.0 million in shares of Seacor Smit stock (about 68,000 shares). In conjunction with the purchase Seacor will assume approximately $15.0 million in debt.

    The transactions are subject to definitive documentation and approval by regulatory authorities. Both transactions are expected to close in early January 2001.

    Seacor Smit and its subsidiaries engage in two primary activities: operation of a diversified fleet of marine vessels primarily dedicated to supporting offshore oil and gas exploration and development in the US Gulf of Mexico, offshore West Africa, the North Sea, Mexico, the Far East and Latin America; and provision of environmental services domestically and internationally, including marine oil spill response, training, and consulting.

    More articles from this category

    More news