Seatrium plans to sell two platform supply vessels for US$59.7 million, or $77.4 million.
The two vessels are held under a special entity called Guanabara Navegação and will be sold to Brazilian vessel operator, Posidonia Shipping and Trading, described as an unrelated third party.
"This accretive divestment is in line with the group’s strategic intent to divest non-core assets to enhance capital and operational efficiencies, and create long-term value for its shareholders.
"No operational impact is expected to arise from such sale. The transaction is expected to complete before the financial year ends," says Seatrium.
Seatrium shares closed at $2.17 on Oct 31.
