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    Deep Sea Supply sells Sea Trout

    Vessel & ROV News // December 21, 2007

    Deep Sea Supply has entered an agreement with TMM in Mexico regarding the sale of the PSV Sea Trout.

    The agreed sales price is in excess of US$36 million less normal
    commissions and delivery is expected in January 2008.

    Deep Sea Supply said it considered this to be a good business opportunity and despite the sale, the company's strategy for further growth remains unchanged.

    Sea Trout was delivered in January 2007 and was the first vessel delivered from Cochin Shipyard Ltd to Deep Sea Supply.

    The vessel is one of five vessels included in a sale and leaseback transaction with Ship Finance International entered into in September 2007 when the vessel was sold at a price of US$29.5 million with a seller's credit of US$2.5 million.

    Deep Sea Supply will buy out the vessel from the existing sale and leaseback transaction.

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