LONDON, UK: James Fisher and Sons plc, the main marine services provider, has entered right into a Memorandum of Agreement for the sale of the Subtech Swordfish Dive Support Vessel to Seamec Limited for a money consideration of US$24 million.
The transaction stays topic to completion of the formal sale process, together with issuing of Notice of Readiness and completion of flag requirements.
The Swordfish has been on buyer contract with an worldwide energy services firm throughout 2022, supporting diving actions within the Middle East. The Sale Agreement permits for the Group to maintain entry to the Vessel till the finish of Q3 2023, enabling it to full existing and potential buyer commitments.
The sale of the Swordfish is a additional demonstration of the Group’s beforehand introduced asset-light strategy. The Group is establishing partnerships with vessel owners to facilitate entry to a number of dive support vessels within the region.
The Vessel contributed £0.4m in Gross Profit to the Marine Support division for the year ended 31 December 2021, previous to any allocation of oblique overheads. The Vessel was designated as held on the market within the Group’s 2022 Interim monetary statements, with a book worth of £13.0m. The proceeds will be utilized to additional reduce the Group’s net borrowings.