Sea1 Offshore Sells 2014-Built Offshore Construction Vessel

April 14, 2025

Sea1 Offshore Sells 2014-Built Offshore Construction Vessel
Sea1 Spearfish OSCV (Credit: Sea1 Offshore)

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. 

Seatrium, Höegh Evi Agree LNG Tanker Conversion Job into FSRU Bound for Egypt

May 13, 2025

Seatrium, Höegh Evi Agree LNG Tanker Conversion Job into FSRU Bound for Egypt

Strategic Move Brings Decom Engineering's Base to Aberdeen

May 16, 2025

Strategic Move Brings Decom Engineering's Base to Aberdeen

ABS, Akselos Deepen FPSO Digital Twin Tech Collaboration

May 6, 2025

ABS, Akselos Deepen FPSO Digital Twin Tech Collaboration

ESVAGT, KMC Line to Launch Offshore Wind JV in South Korea

May 12, 2025

ESVAGT, KMC Line to Launch Offshore Wind JV in South Korea

China’s Deepwater Pipe-Laying Crane Vessel Sets Sail for Middle East

May 13, 2025

China’s Deepwater Pipe-Laying Crane Vessel Sets Sail for Middle East

New Fortress Energy Charters FSRU for Dominican Republic LNG Terminal

May 14, 2025

New Fortress Energy Charters FSRU for Dominican Republic LNG Terminal