"World Sapphire" og "World Emerald" solgt

Refvik

Administrator
Staff member
S.D. Standard Drilling Plc ("SDSD") - Sale of vessels

Limassol, 18 October 2018 New World Supply Ltd ("NWS"), where SDSD has an ownership of 26.2%, has completed a sale of two of its six medium sized platform supply vessels (PSVs). The vessels, "World Sapphire" and "World Emerald", have been in lay-up in Spain since October and November 2016. The purchase price, which remains confidential, has been fully paid for both vessels. The transaction is done at a level that reflect significantly higher vessel value compared to SDSD's book value and acquisition price of the shares in New World Supply Ltd.

As previously stated, SDSD consider its holding in NWS as a financial investment. Following the above mentioned transaction, NWS owns four medium sized PSV vessels built in 2013.

Northern Supply AS (previously PSV Opportunity AS and Northern PSV AS), where SDSD has an ownership of 25.5%, has completed a sale- lease back contract for FS Arendal (2006). FS Arendal was sold for USDm 2.8. Northern Supply AS has entered into a one year bare-boat contract (1+1 year option) with the buyer at day rate USD 0 per day and with a 50/50 profit split at net hire between GBP 5100-10 000 per day. Northern Supply AS has received the total transaction price. The buyer is responsible to carry out and pay for Special Survey/Engine overhaul/DP 2, a cost estimated to be approximately USDm 1.4 (at buyers risk). This transaction increases the gross cash in Northern Supply AS with USDm 4.2 compared to not executing this transaction.

"These transactions are in line with our expectations of an increase in the value of our assets. In addition, these transactions strengthen the cash position in the company structure, still with no debt, and further enables Standard Drilling to pursue other attractive opportunities within the market the Company operates" says Martin Nes, Chairman of the Board in SDSD.

After the transactions SDSD has a 100% ownership of five large sized PSV's and ~26% ownership of 12 medium sized PSV's.

Further SDSD has economic exposure in 18 PSVs in total (including the sale-lease back of FS Arendal), where of the 4 medium sized PSV's owned by NWS are considered as a financial asset. SDSD has no debt.
 

Refvik

Administrator
Staff member
S.D. Standard Drilling Plc increases ownership in four mid-size platform supply vessel

S.D. Standard Drilling Plc ("SDSD" or the "Company") has entered into an agreement to acquire 2,673,749 shares in New World Supply Ltd. ("NWS"), corresponding to approximately 8.23% of the total outstanding shares in NWS (the "Transaction"). Prior to the Transaction, the Company had a 26.2% ownership of NWS. As such, following the Transaction the Company will hold approximately 34.4% of the total outstanding shares in NWS.

As consideration for the 2,673,749 shares in NSW, SDSD will pay USD 1.830,866 to the sellers. The Transaction will be completed within a few days.

NWS is a Cayman Island exempted company that, through its wholly owned subsidiaries, owns four (4) 2013 built 3300 CD Platform Supply Vessels ("PSV") ; World Diamond, World Peridot, World Pearl and World Opal. SDSD will through the Transaction strengthen its ownership in a fleet of mid-size PSV's acquired at favourable prices.
 

Refvik

Administrator
Staff member
S.D. Standard Drilling Plc ("SDSD") - Sale of NWS vessels

New World Supply Ltd ("NWS"), where SDSD has an ownership of 34.4%, has completed a sale ("Transaction"), with a well known and reputable counterparty, of its remaining four medium sized platform supply vessels (PSVs). The vessels, "World Diamond", "World Peridot", "World Pearl" and "World Opal"( jointly referred to as "NWS vessels") , have been in lay-up in Norway since October and November 2016.

The transaction is completed and the purchased price has been fully paid for all four vessels. All terms have been agreed and there are no further conditions. The transaction is done at a level that reflect higher vessel value compared to SDSD's book value and significantly higher than the acquisition price of the shares in New World Supply Ltd purchased by SDSD. NWS and its subsidiaries now have cash holdings only and no vessels.

SDSD has previously highlighted that it will take advantage of opportunities that may appear. Further SDSD has stated that it considered its holding in NWS as a financial investment. Consequently, the sale of these vessels, at a significantly higher price than the purchase price, is in line with SDSD's strategy.

"This transaction is in line with our expectations of an increase of the value of our fleet. The sale of vessels is done at higher levels compared to the two vessels sold in October 2018. Further, this transaction is evidence of the fact that the company's purchase price of shares in New World Supply were done at highly attractive levels. The company's ultimate strategy is to create shareholder value. This transaction supports this strategy" says Martin Nes, Chairman of the Board in SDSD.

After the transactions, Standard Drilling has a 100% ownership of five large-size modern PSVs. In addition, the company has invested in 9 mid-size PSVs, bringing the total fleet of partly and fully owned vessels to 14 PSVs, including one vessel on a bare-boat contract.

The pro-forma cash balance of SDSD end of March 2019 would be approximately USD 36 million, as if the Transaction was closed in March, including pro-rataownership of cash in subsidiaries and investments, of which USD approximately 20.5 million is cash in SDSD and subsidiaries.

SDSD has no debt.
 

KVALNES

Active Member
Foto fra 26. Mai 2019 - Skarbøvika i ÅlesundIMG_0701.JPGIMG_0701.JPG
WORLD DIAMOND og WORLD PEARL.
Foto; Sven Arild Pedersen
 
World Opal skal ombyggast til fôr-båt iflg Vestlandsnytt:
"- Vi kjøpte denne båten av Borealis Maritime i slutten av juli. Måndag starta vi slepinga av båten frå Herøyterminalen til Rotterdam, der vi skal bygge den om til eit transportfartøy for fôr. Vi reknar med den er framme på laurdag. Ombygginga skal etter planen vere ferdig i mai neste år. Den vil då gå inn i vår flåte av fôrfartøy, seier Eidsvaag. "
 

Refvik

Administrator
Staff member
Noken som har illustrasjon på kordan "Eidsvaag Opal" blir sjåandes ut ferdig ombygd?
 

Kopprino

New Member
Skal ein tru rykta så har Borealis (eigaren) fått ei lengre kontrakt på båten, og den skal til Rotterdam for klassing og eventuelt ombygging.
 
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