Second Time Lucky for Standard Supply's Final PSV Sale

AI generated image of a platform supply vessel
Corporate News Offshore
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Updated Published

The Oslo-listed PSV investment company, Standard Supply, has successfully sold its final vessel after an initial deal fell through.

Controlled by Øystein Stray Spetalen, the firm has finalized the sale of the 2007-built, large PSV Standard Supplier.

Originally part of a $72.2 million deal for three ships with Capital Offshore, supported by Evangelos Marinakis, in November, the sale of this particular 5,100 dwt platform supplier was voided due to a failed delivery after repairs to its azimuth thruster were needed.

Currently chartered to BP UK for approximately $23,500 daily, the vessel is set to be transferred to an undisclosed buyer in early April for $22.7 million.

Martin Nes, Standard Supply's chairman, mentioned that the company is expected to have around $43 million in cash following the completion of this sale.

SD Standard ETC, a Cyprus-based entity owned by Spetalen, holds about 53% of Standard Supply's shares. Norwegian investors Arne Blystad and Harald Moraeus-Hanssen are also significant shareholders in the company.