Sea1 Offshore, formerly Siem Offshore, has signed an agreement to sell the 2014-built offshore construction vessel (OSCV) Sea1 Spearfish to an independent third party.
The sale is done on market terms and will result in a gain of approximately $40 million for Sea1 Offshore, the company said.
The vessel is currently on a contract with PXGEO. The remaining firm contract period is reflected in the sale price.
Existing debt of $39 million will be repaid following the transaction.
The transaction is subject to customary closing conditions and closing is expected to take place in May 2025.
The Sea1 Spearfish is designed for subsea operation duties such as construction and installation work, inspection and maintenance.