Nimrod Sea Assets adds two platform supply vessels

NSA : Nimrod Sea Assets adds two platform supply vessels

Nimrod Sea Assets is spending $24.4m on a 75% stake in two new platform supply vessels (PSVs), $12.75m now and the balance next April when the second of the two boats is complete. They will be chartered and operated by Fletcher Shipping ( designation: FS Cygnus, FS Scorpius), and will be used in the North Sea.

The FS Cygnus is Norwegian new-build UT 755, 76.5m PSV, powered by the latest generation of two Rolls Royce diesel engines with a two-speed propulsion system for maximum fuel efficiency. The vessel has considerable tank storage capacity and 710m(2) of usable deck space for cargo operations. UT 755’s are the most common type of PSV and the Board believes Norwegian built units have extremely good residual value characteristics.

The FS Scorpius build is on schedule and the vessel is in the final phase of fit-out at the yard for April 2015 delivery. They will not take delivery of the vessel until it is complete and delivered to contract and is not obligated financially until this point.

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