Marco Polo Marine sells AHTS to joint venture company

Vessel & ROV News - October 30, 2009

| More

Marco Polo Marine has announced that the JV its wholly-owned subsidiaries, Marco Polo Shipping Co Pte Ltd and PT Marcopolo Shipyard, have entered into a sales and purchase agreement with the shareholders of the JV it has with PT Rig Tenders Tbk to sell a 5,380 bhp anchor handler to the JV. The company said it has also concluded a deal for a ship-repair and maintenance agreement for total value of US$15.0 million.

Under the five-year repair and maintenance agreement, the JV is obligated to send the AHTS vessel to the Group’s shipyard in Batam for all repairs for a period of five years and the JV will be billed accordingly for the repairs undertaken.

The company has received a 30 per cent deposit and the balance amount will be paid upon delivery of the vessel, in the third quarter of its FY2010.

The entire profit from the vessel sale will be booked in the current financial year ending 30th September 2010.


More articles from this category

More news


Product Guide

News Letter

Fill in your name, company and e-mail address below for our bi-weekly newsletter.



Powered by MARIS.

Subscribe to Offshore Shipping News Online RSS

Follow Offshore Shipping News Online on Twitter

Subscribe to email updates




Subsea and OSV Africa
26-27 November 2014
South africa, Cape Town.

FPSO Training Course Paris
01-03 December 2014
France, Paris.

OSEA 2014
02-05 December 2014
Singapore, Singapore.

Brazil Manning and Training
02-03 December 2014
Brazil, Rio de Janeiro.

Dynamic Positioning Seminar
04-05 December 2014
United kingdom, London.

More events