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SPO orders eight PSVs, acquires Seabed

Thursday, 23 February 2012 | 14:31
Swire Pacific Offshore Operations (SPO) has entered into newbuilding orders for platform supply vessels (PSVs) and an acquisition deal.
The Singapore-headquartered SPO, wholly-owned by Swire Pacific Limited, ordered four PSVs to be built by Japan's Universal Shipbuilding and another four to be constructed by EISA shipyard in Brazil. Financial terms for the deal were not disclosed.
The 5,000 dwt vessels will have DP2 capability and diesel-electric propulsion systems with azimuth propulsion units. The vessels will be delivered progressively from early 2014.
SPO also announced on Tuesday the acquisition of Norway-based Seabed AS, a subsea operations company. Along with the acquisition, SPO will take ownership of Seabed Worker, the 88-metre multi-purpose support vessel, and the high-specification subsea ROVs held by Seabed, which will be renamed Swire Seabed.
Neil Glenn, managing director of SPO, said the acquisition of Seabed will allow SPO to “increase our capabilities and extend the range of services we are able to offer to our customers.”
Source: Seatrade-Asia
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