Sale of Vessels

28 January 2019

Siem Offshore has entered into an agreement to sell the three VS 470 MK II PSVs, “Siem Sasha” (built 2005), “Siem Louisa” (built 2006) and “Sophie Siem” (built 2006).

Delivery of the vessels to the new owner is scheduled to take place in 1Q 2019.

The sale of the three PSVs will have a positive cash effect of USD10 million and minor accounting effect.

Siem Offshore press release