Nimrod Sea Assets is paying $8m for a 50% stake in a multi-ole support vessel – EDT Jane – and will charter the asset to EDT Offshore Ltd on a bareboat charter party deal lasting between five and ten years depending on purchase options the charterer can exercise.
They say EDT Offshore Ltd is an experienced and highly respected vessel operator based in Cyprus with a long history of successful offshore operations. EDT Offshore Ltd supports major offshore contractors such as Technip and Bibby Offshore with the provision of specialist vessels for complex offshore operations.
The EDT Jane is an 89m x 19m specialist offshore vessel that has operated in the harsh West of Shetlands area and was built in 2013 in Spain. The EDT Jane is specified for deep water worldwide operations and is equipped with the latest Kongsberg dynamic positioning system, has accommodation for 69 people, hangers for work-class remote operated vehicles, and a 70t crane.
Multi-role support vessels support the inspection, repair and maintenance of offshore oil and gas infrastructure and are therefore important in the continued efficiency of offshore energy production. In the view of the Executive Directors, and independent market analysts, demand for these vessels is likely to rise substantially within the period of the charter despite short-term volatility in the offshore construction market.
The vessel was purchased with senior debt and interest rate swap financing provided by DVB Bank and a performance related charterers’ credit.
NSA : Nimrod buys multi-role support vessel