SBM Installer Sold, Long Term Charter Signed

Rob Almeida
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December 1, 2014

SBM Installer, image: SBM Offshore

SBM Offshore announced today they have sold their new Diving Support and Construction Vessel (DSCV) SBM Installer for US$150 million in cash, however it’s not exactly going far.  The vessel is now owned by a joint venture between SBM Offshore (25%) and Ocean Yield ASA (75%) and will be bareboat chartered back to SBM for the next 12 years.

After five years, SBM Offshore has the option to reacquire the vessel.

About the SBM Installer:

The DSCV SBM Installer is a state of the art multi-purpose Diving Support and Construction Vessel (DSCV), based on the MT-6024 design from Marin Teknikk in Norway and built to DNV rules and international regulations. Built by Keppel Singmarine in Singapore in 2013, the vessel features the patented ‘double-deck’ design which improves safety as well as providing significantly more deck space. The vessel is equipped with a class III DP system as well as a fully integrated 12-man saturation diving system capable of operating in up to 300 metres of water. A 250 ton knuckle boom crane and 150 tonne winch will enable the vessel to carry out offshore construction and installation work in water depths of up to 1,500 meters.

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